May 10, 2018

Successful commercialization of gut microbe strain could net Mayo $55M

By Karl W Oestreich

Twin Cities Business
by Don Jacobson

If biotech firm Evelo Biosciences is successful enough in commercializing its lead anti-inflammatory drug candidate — made by using a strain of Twin Cities Business Magazine Logohuman gut microbe licensed from the Mayo Clinic — the Rochester institution’s ultimate payday could be as much as $55 million. That and other information regarding Mayo’s contributions and potential financial benefits from its association with Cambridge, Massachusetts-based Evelo were revealed when the “gut microbiome” company filed for a $100 million initial public offering in April.

Reach: Twin Cities Business is a monthly business magazine with a circulation of more than 30,000 and more than 74,000 readers. Its website has more than 45,000 unique visitors each month. The magazine also posts daily business news on its website.

Context: Some of the medical advancements most widely used throughout the world have been developed at Mayo Clinic. Nearly every MRI machine contains Mayo Clinic technology. Mayo Clinic holds the patent for the assay-of-choice to diagnose vitamin D deficiency and monitor treatment results. Mayo Clinic was awarded a Nobel Prize for discoveries that led to the isolation and first use of cortisone. Mayo Clinic intellectual property has been instrumental to the creation and success of numerous startup companies. You can read more about Mayo Clinic Ventures here.

Contact:  Duska Anastasijevic

 

Tags: Evelo Biosciences, gut microbiome, Mayo Clinic Ventures, Twin Cities Business, Uncategorized

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