Evelo Biosciences (Nasdaq:EVLO), a clinical stage biotechnology company developing a new modality of orally delivered medicines, and Abdul Latif Jameel Health, a company focused on accelerating access to affordable modern medical care while addressing unmet medical needs in developing markets around the world, and part of Abdul Latif Jameel, announced that the companies have entered into a strategic collaboration to develop and commercialize Evelo’s lead inflammation product candidate EDP1815 in the Middle East, Turkey, and Africa.
EDP1815 is an investigational oral medicine being developed for the treatment of inflammatory diseases.
Evelo and Abdul Latif Jameel Health will work to address the significant disparity in access to medical care in the fastest-growing populations and growth economies of the developing world. Africa’s population is projected to reach 1.7 billion by 2030 and 2.5 billion by 2050, with annual spending on the continent expected to reach US $6.66 trillion by 2030, spurring growing markets in sectors including healthcare.
Abdul Latif Jameel Health is supported and works hand in hand with the JIMCO Life Sciences Fund, one of three investments pillars of the Abdul Latif Jameel Investment Management Company (JIMCO), an venture investment business consolidating the work of three generations in purposeful investing from one of the Middle East’s most renowned and respected privately owned diversified family businesses and global philanthropies.