SOURCE: Evolve BioSystems, Inc.

Evolve BioSystems, Inc.

August 17, 2015 12:01 ET

Evolve BioSystems Inc. Completes $9 Million Series A Investment

DAVIS, CA--(Marketwired - Aug 17, 2015) - Evolve BioSystems, Inc., a microbiotics company developing novel solutions to resolve the dysbiosis in the human infant microbiome that can result from pre-term birth, Caesarian-Section deliveries, and exclusive use of infant formulae, is pleased to announce that it has completed a $9 million Series A Investment to fund the pre-commercialization phase of the Company's growth. The Investment was led by Horizons Ventures and supported by Seed Stage investors in the Company, including Tate and Lyle Ventures and a number of Angel Investors.

"Completion of the Series A round ahead of schedule is a reflection of both the importance of the ground-breaking discoveries of the Company's founders at the University of California at Davis, and a compelling business case that focuses on the improvement of the health trajectory for babies worldwide," said Dr. David Kyle, CEO of Evolve and former founder of Martek Biosciences. "Evolve's deep understanding of the innate balance and dietary control of a healthy infant microbiome has demonstrated the need for truly effective pro- and prebiotic products to return these precious systems to their natural state. This investment is timely, as it will accelerate our efforts to move these new discoveries into commercial products that can improve the health outcomes for infants globally."

The funds will be applied to support Evolve's ongoing clinical activities, operational expansion, and preparations for commercial launch of its novel probiotic and prebiotic products, which restore the balance of the infant microbiota.

"Having originally invested in Evolve in August 2014, we are delighted to support the company as it progresses its research, clinical, and commercial endeavors," said Dr. Simon Barnes, Managing Partner of Tate and Lyle Ventures, and a member of the Board of Directors of Evolve. "Over the past year the Evolve management team has raised Seed Capital, licensed a substantial suite of intellectual property from the University of California, initiated clinical trials, and commenced business development activities for a range of products and technologies being developed by the Company."

Dr. Anne Lo of Horizons Ventures said, "We are very impressed with Evolve's deep understanding of the infant microbiome space built on research by the founders at the University of California over the past ten years. The correct composition of microbiome in the first few months of life can play a crucial role in the maintenance of health throughout the entire life cycle. Through focusing in this space, Evolve has incredible potential to make a massive impact on the health of our next generation globally and, Horizons is excited to be part of Evolve's development."

About Evolve BioSystems
Evolve BioSystems, Inc. is a privately-held microbiotics company dedicated to developing and bringing to market the next generation of products to establish, restore, and maintain a healthy human microbiome across a range of unmet clinical needs. Evolve is a spin-out from the Foods For Health Institute (FFHI) at the University of California at Davis and builds on more than a decade of research into understanding the uniqueness of the infant microbiome and its intimate interaction with breast milk components. Having led to the discovery and development of products to restore the human infant microbiome to its natural state, Evolve's discovery platform is now being applied to solving dysbiosis issues throughout the human life cycle as well as in similar problems in production animal species. Evolve completed a seed funding round in 2014 and is undertaking multiple clinical trials to confirm the value of its proprietary prebiotic and probiotic assets in returning an infant's microbiome to its naturally evolved state. Dr. Kyle was a founder and executive officer at Martek Biosciences, a biotechnology company similarly focused on infant nutrition which was acquired by DSM in 2010 for $1.1 B.

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About Horizons Ventures
Based in Hong Kong, Horizons Ventures manages the technology investments of Mr. Li Ka-Shing globally, including investments in companies such as Skype, Facebook, Spotify, Siri, Waze, Deepmind, Hampton Creek, and Windward.

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About Tate & Lyle Ventures
Tate & Lyle Ventures is a venture capital fund backed by Tate & Lyle PLC the global food ingredients company. Tate & Lyle Ventures invests in food sciences and nutrition opportunities globally and is currently investing its second £30 million ($45 million) fund launched in January 2013. The fund is independently managed by Circadia Ventures, an FCA authorised and regulated investment firm based in London, UK.

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