Evelo Biosciences, which merged with Epiva Biosciences, is clinical-stage biotechnology company focused on developing oral biologic products based on single strains of non-live microbes or microbial extracellular vesicles (EVs) for the potential treatment of inflammatory diseases, including psoriasis and atopic dermatitis.In July 2016, Evelo Biosciences and Epiva Biosciences (portfolio companies of Flagship Ventures) had merged to form a immuno-microbiome company, developing therapeutics for cancer, autoimmune and inflammatory diseases with the name of Evelo Biosciences.In July 2023, Evelo Biosciences Inc closed the previously announced private placement, resulting in gross proceeds of approximately $25.5 million from the sale of 11,025,334 shares of its common stock at a purchase price of $2.31 per share.In May 2022, the company entered into a securities purchase agreement with investors in a registered direct offering of 54,246,358 shares of common stock at USD 1.46 per share to rais