March 24, 2021

JIMCO Life Sciences Fund & Abdul Latif Jameel Health in collaboration with Evelo Biosciences to commercialize novel therapy for inflammatory disease & COVID-19

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Collaboration for commercialization of Evelo Biosciences EDP1815 therapeutic candidate targets selected developing markets serving more than 1.7 billion people

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.

Evelo is Abdul Latif Jameel Health’s first major biotechnology collaborator working to create effective and affordable medicines, and Abdul Latif Jameel Health will provide the critical resources needed to help realize this vision.  

Fady Jameel, Deputy President and Vice Chairman, Abdul Latif Jameel, restated the Jameel family’s long-standing commitment to innovating for a better future, including through Community Jameel, an international organization supporting science and technology-led solutions to global challenges, which co-founded the Jameel Clinic at MIT and the Jameel Institute at Imperial College London.  

Fady stated, “Access to health care must be seen as an undeniable basic human right, irrespective of where people live or their economic means – just like water or shelter. Although a difficult and multifaceted problem, Abdul Latif Jameel Health, working with world leading biotechnologists, such as Evelo, is determined to be part of the solution.” 

Read the full Abdul Latif Jameel press release here.

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