The Alphabet, Celgene and Mayo Clinic-backed gut-body drug developer floated at the top of its range, after about $167m in VC funding.
Evelo Biosciences, a US-based gut-body therapeutics developer backed by internet technology conglomerate Alphabet and pharmaceutical firms Celgene and Mayo Clinic, went public on Wednesday in an $85m initial public offering.
The company issued just over 5.3 million shares on the Nasdaq Global Select Market priced at $16 each, the middle of the $15 to $17 range it set late last month, giving it a market capitalisation of about $510m.
Evelo is developing treatments for inflammatory diseases and cancer that…
