Evelo Biosciences Announces Appointment of Marella Thorell as Chief Financial Officer
July 18 2022 - 5:00AM
Evelo Biosciences, Inc. (Nasdaq:EVLO), a clinical stage
biotechnology company developing a novel platform of orally
delivered medicines acting on the small intestinal axis, SINTAX,
today announced the appointment of Marella Thorell as Chief
Financial Officer (CFO), effective September 1, 2022.
Ms. Thorell brings more than 25 years of finance and operations
experience, having successfully led multiple M&A, licensing,
and fundraising transactions for biotechnology companies, as well
as having directed public and private company finance teams across
diverse global markets and through all stages of clinical
development. She most recently served as Chief Accounting Officer
of Centessa Pharmaceuticals.
“Marella is an accomplished leader,” said Simba Gill, Ph.D.,
Chief Executive Officer of Evelo. “Her extensive financial and
strategic experience will be extremely valuable as we move towards
later-stage clinical development and commercialization of our
products and continue to scale and build Evelo. We are pleased to
have Marella join us and welcome her to our leadership team.”
“This is an exciting time to be joining the accomplished Evelo
team,” said Ms. Thorell. “Over the last year, the Company has
reported positive Phase 2 clinical data from EDP1815 in psoriasis.
These data demonstrate the potential of EDP1815 as a critical new
therapy to treat the unmet need of patients with psoriasis.
Importantly, Evelo’s clinical and preclinical data demonstrate the
opportunity of SINTAX as a therapeutic target, and the potential to
reduce systemic inflammation without systemic exposure. I was drawn
to Evelo because I believe there is tremendous possibility in this
new modality of medicine, and I look forward to working with the
team to advance the company’s product candidates through late-stage
clinical development and towards commercialization.”
About Marella ThorellMarella Thorell has more
than 25 years of experience in finance and operations. Ms. Thorell
joins Evelo from Centessa Pharmaceuticals, where she most recently
served as Chief Accounting Officer and previously as Head of
Finance. In this role, she led the establishment of Centessa’s
finance operations, led its public company readiness activities in
connection with its initial public offering and oversaw finance and
accounting operations. Previously, Ms. Thorell served as Chief
Financial Officer at Palladio Biosciences before its acquisition by
Centessa, and, before that, Ms. Thorell spent over ten years at
Realm Therapeutics in various roles of increasing responsibility,
including Chief Financial Officer and Chief Operating Officer. Ms.
Thorell serves as a board member of ESSA Pharma and chairperson of
the board of Vallon Pharmaceuticals. She holds a Bachelor of
Science in Business from Lehigh University, magna cum laude.
About Evelo BiosciencesEvelo
Biosciences is a clinical stage biotechnology company
developing a novel platform of orally delivered medicines acting on
the small intestinal axis, SINTAX, with systemic therapeutic
effects. SINTAX plays a central role in governing the immune,
metabolic, and neurological systems. The Company’s product
candidates are pharmaceutical preparations of single strains of
microbes or their extracellular vesicles (EVs). Evelo’s vision is
to create therapies that are effective, safe, well-tolerated, and
affordable to improve the lives of the billions of people living
with inflammatory diseases.
The Company is developing EDP1815, currently in late-stage
development for psoriasis and atopic dermatitis, and EDP2939, about
to enter the clinic to treat inflammatory diseases. Evelo is also
advancing additional product candidates in other disease areas.
For more information, please
visit www.evelobio.com and engage with Evelo
on LinkedIn.
Forward Looking StatementsThis 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 development of EDP1815 and the
promise and potential impact of our product candidates.
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; that 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; that 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 three-month period ended
March 31, 2022, 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.
Contacts
Investors:Kendra Sweeney,
239-877-7474ksweeney@evelobio.com
Media:Jessica Cotrone,
978-760-5622jcotrone@evelobio.com
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