Evelo Biosciences Appoints John Maraganore, Ph.D. and Tassos Gianakakos as Strategic Advisors
Evelo Biosciences, Inc. (Nasdaq:EVLO) has appointed two industry veterans as strategic advisors: John Maraganore, former CEO of Alnylam Pharmaceuticals, and Tassos Gianakakos, former CEO of MyoKardia. Their extensive experience in biotechnology is expected to enhance Evelo’s initiatives in developing orally delivered medicines targeting inflammatory diseases. Evelo’s current product candidates include EDP1815 and EDP2939, which are designed to improve therapeutic outcomes in patients. The company continues to navigate the complexities of clinical development while aiming for innovative therapeutic solutions.
- Appointment of experienced strategic advisors John Maraganore and Tassos Gianakakos may enhance Evelo's strategic direction and innovation.
- Both advisors have strong backgrounds in building pioneering biotech companies, which could positively influence Evelo's development trajectory.
- Evelo has incurred significant losses and is currently unprofitable, raising concerns about long-term financial sustainability and the need for additional funding.
- The lengthy and uncertain clinical drug development process poses risks, potentially leading to delays in regulatory approvals for their product candidates.
CAMBRIDGE, Mass., April 21, 2022 (GLOBE NEWSWIRE) -- Evelo Biosciences, Inc. (Nasdaq:EVLO), a clinical stage biotechnology company developing a new modality of orally delivered medicines, today announced that John Maraganore, Ph.D., founder and longtime former CEO of Alnylam Pharmaceuticals, and Tassos Gianakakos, the longtime former CEO of MyoKardia, have joined Evelo as strategic advisors.
“We are thrilled to welcome both John and Tassos as strategic advisors to Evelo,” said Simba Gill, Ph.D., Chief Executive Officer of Evelo. “John and Tassos’ long and remarkable track records in building pioneering platform companies and innovative treatments will hold us in good stead as we continue to execute on our vision.”
About John Maraganore
Dr. John Maraganore served as the founding CEO and a Director of Alnylam from 2002 to 2021, where he built and led the company from early platform research on RNA interference through global approval and commercialization of the first four RNAi therapeutic medicines. Before his time with Alnylam, John’s long career in biotech included serving in leadership roles across research, development and other areas at Millennium Pharmaceuticals and Biogen. Dr. Maraganore received his M.S. and Ph.D. in biochemistry and molecular biology at the University of Chicago.
About Tassos Gianakakos
Tassos Gianakakos served for eight years as Chief Executive Officer of MyoKardia, a company focused on developing innovative therapeutics to treat genetic heart disease, until MyoKardia’s 2020 acquisition by Bristol Myers Squibb. During his time, MyoKardia developed several targeted cardiovascular medicines, including mavacamten for the treatment of obstructive hypertrophic cardiomyopathy (“HCM”). Prior to MyoKardia, his extensive experience included leadership roles at MAP Pharmaceuticals (acquired by Allergan), Codexis Inc. and Maxygen. Mr. Gianakakos holds B.Sc. degrees in chemical engineering and economics from the Massachusetts Institute of Technology, an M.Sc. in biotechnology from Northwestern University and an M.B.A. from Harvard Business School.
About Evelo Biosciences
Evelo Biosciences is a clinical stage biotechnology company developing orally delivered product candidates that are designed to act on the small intestinal axis, SINTAX™, with systemic therapeutic effects. SINTAX plays a central role in governing the immune, metabolic, and neurological systems. The Company’s first product candidates are pharmaceutical preparations of single strains of microbes selected for the potential to offer defined pharmacological properties. Evelo’s therapies have the potential to be effective, safe, and affordable medicines to improve the lives of people with inflammatory diseases.
Evelo currently has two product candidates in development: EDP1815 and EDP2939 for the treatment of inflammatory diseases. Evelo is advancing additional product candidates in other disease areas.
For more information, please visit www.evelobio.com and engage with Evelo on LinkedIn.
Forward Looking Statements
This press release contains forward-looking statements including within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including statements concerning the development of our product candidates.
These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: the impact of the COVID-19 pandemic on our operations, including our preclinical studies and clinical trials, and the continuity of our business; we have incurred significant losses, are not currently profitable and may never become profitable; our need for additional funding; our limited operating history; our unproven approach to therapeutic intervention; the lengthy, expensive, and uncertain process of clinical drug development, including potential delays in regulatory approval; our reliance on third parties and collaborators to expand our microbial library, conduct our clinical trials, manufacture our product candidates, and develop and commercialize our product candidates, if approved; our lack of experience in manufacturing, selling, marketing, and distributing our product candidates; failure to compete successfully against other drug companies; protection of our proprietary technology and the confidentiality of our trade secrets; potential lawsuits for, or claims of, infringement of third-party intellectual property or challenges to the ownership of our intellectual property; our patents being found invalid or unenforceable; risks associated with international operations; our ability to retain key personnel and to manage our growth; the potential volatility of our common stock; our management and principal stockholders have the ability to control or significantly influence our business; costs and resources of operating as a public company; unfavorable or no analyst research or reports; and securities class action litigation against us.
These and other important factors discussed under the caption "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, and our other reports filed with the SEC, could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, except as required by law, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.
Contacts
Investors:
Kendra Sweeney, 239-877-7474
ksweeney@evelobio.com
Media:
Jessica Cotrone, 978-760-5622
jcotrone@evelobio.com
FAQ
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