Evelo Biosciences Appoints Julie Carretero as Chief People Officer
Evelo Biosciences (Nasdaq: EVLO) announced the appointment of Julie Carretero as Chief People Officer. With over 20 years of experience, Carretero will lead talent acquisition and employee development. CEO Simba Gill emphasized her expertise as vital for upcoming clinical readouts, including data from EDP1815 expected by mid-2021. Evelo is advancing its pipeline of oral biologics targeting inflammatory diseases and cancer with four product candidates in development.
- Julie Carretero brings over 20 years of experience in HR and organizational development.
- Her appointment comes as Evelo anticipates up to six clinical readouts in the next 6-12 months.
- Carretero’s previous success in scaling organizations could strengthen Evelo's operational capabilities.
- Evelo has incurred significant losses and is not currently profitable.
- The lengthy, expensive, and uncertain drug development process poses risks for upcoming trials.
CAMBRIDGE, Mass., Sept. 14, 2020 (GLOBE NEWSWIRE) -- Evelo Biosciences, Inc. (Nasdaq:EVLO), a clinical stage biotechnology company developing a new modality of orally delivered, systemically acting biologics, today announced the appointment of Julie Carretero as Chief People Officer. In her new role, Ms. Carretero will assume leadership responsibilities for people initiatives, including talent acquisition and employee development, and will be a member of the Evelo Leadership Team.
“We welcome Julie to Evelo’s Leadership Team at an exciting time as we progress to the next phase of our development, with up to six clinical readouts anticipated over the next 6-12 months,” said Simba Gill, Ph.D., Chief Executive Officer of Evelo. “Julie has successfully led and scaled organizations, and her extensive experience in strategic and operational roles in both HR and Commercial will be essential as we plan to build out the organization following interim Phase 2 data in EDP1815, which is expected by mid-2021.”
With more than 20 years of experience, Ms. Carretero excels at aligning strategy and culture to influence results. She has led large enterprise transformations that have leveraged her expertise in strategic organizational design as well as building commercial organizations. Ms. Carretero joins Evelo from FXI Corporation, a private equity held manufacturing company, where she served as Chief Human Resources Officer since 2018. While at FXI, Ms. Carretero managed and oversaw the integration planning and execution of an acquisition that doubled the size of the Company’s revenue and footprint. Prior to FXI, Ms. Carretero served in roles of increasing responsibility at Novartis Pharmaceuticals, most recently as Human Resources Lead for the Cardiovascular Business Unit. During her tenure at Novartis she oversaw cultural transformation, strategic organizational design, workforce planning, talent management, succession planning, and change leadership.
“I am excited to join Evelo at this important stage in the Company’s journey, and I look forward to being a part of this exceptional Leadership Team,” said Ms. Carretero. “Evelo has a remarkable vision to transform medicine and to provide therapies for all stages of disease and for all people globally. I look forward to helping build the team and capabilities to realize that vision.”
About Evelo Biosciences
Evelo Biosciences is a clinical stage biotechnology company developing oral biologics that act on SINTAX™, the small intestinal axis, 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 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 and cancer.
Evelo currently has four product candidates in development: EDP1815, EDP1867, and EDP2939 for the treatment of inflammatory diseases including psoriasis, atopic dermatitis, and COVID-19, and EDP1503 for the treatment of cancer. 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 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 timing and results of any clinical trials or readouts, our development plans, and the promise and potential impact of any of our therapies.
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 Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, 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.
Contact
Jessica Cotrone, 978-760-5622
jcotrone@evelobio.com
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