Evelo Biosciences Closes $25.5 Million Private Placement - Seite 2

Concomitant with the financing, Evelo appointed Jeff Moore and Alec Reynolds to its Board of Directors (the “Board”). Jeff is a Senior Vice President at Flagship and brings more than 25 years of financial and operations experience building life science companies and has served in several senior financial and operational roles for a number of public and private companies. Jeff began his career with Price Waterhouse in its Emerging Growth Company practice providing audit and advisory services to private and public life science and technology companies. Alec is the Chief Operating Officer of Flagship’s Pioneering Medicines initiative. Prior to joining Flagship, Alec held senior roles at Celgene, leading teams across operational, clinical, and regulatory areas, and also served as the global project leader for Revlimid in Multiple Myeloma which became a $10 billion revenue per year product. Prior to Celgene, Alec worked at the U.S. Treasury, The Carlyle Group, and Morgan Stanley. With Jeff and Alec joining the Board, four current directors, Theo Melas-Kyriazi, John Hohneker, Iain McInnes and Julie McHugh, have stepped down, reducing the size of the Board to seven directors. Dr. Hohneker and Dr. McInnes will continue as clinical and scientific advisors to the Company.

Robert Rosiello, Evelo’s Chairman, commented, “We welcome Jeff and Alec to the Board. Their experiences in developing clinical programs through approval and in building biotech companies will be valuable to us as we move to our next stage of growth. We thank Julie, Theo, John and Iain for having helped us enormously over many years from our origin to where we are today.”

“We also want to thank Horizon who has been a strong partner to us through the current challenging macro financial markets. We are pleased to have the continued strong support of our founding investor, Flagship Pioneering, as well as other existing and new investors,” continued Mr. Rosiello. “We look forward to our planned Phase 2 clinical data release later this year.”

About Evelo Biosciences

Evelo Biosciences is a clinical stage biotechnology company developing a novel platform of orally delivered anti-inflammatory medicines acting on the small intestinal axis, SINTAX, with systemic therapeutic effects. The small intestine plays a central role in governing inflammation throughout the body. The Company’s product candidates are pharmaceutical preparations of single strains of microbes or their extracellular vesicles (“EVs”). Evelo’s vision is to create therapies that are effective, safe, well-tolerated, and affordable to improve the lives of the billions of people living with inflammatory diseases. If shown to be effective in inflammatory disease mediated by the Th1, Th2 or Th17 inflammatory pathways, these same investigational medicines could be effective in additional inflammatory diseases, such as psoriatic and other forms of arthritis, asthma, allergy, and inflammatory bowel disease.