Investors Continue to Support Breakthrough Research on Infant Gut Health

Evolve's final round of funding will help further the brand's goal of resolving Newborn Gut Deficiency in the U.S.

DAVIS, Calif., May 25, 2021 /PRNewswire/ -- Evolve BioSystems, Inc., a privately-held leading microbiome company, announced today the second and final close of its Series D round of funding exceeding $65 million, led by investors Cargill and Manna Tree. Oversubscribed from original expectations, this second closing of the Series D will accelerate the company's mission to research and address Newborn Gut Deficiency (NGD), a dramatic shortage of key good bacteria in the infant gut microbiome, and thus improve the health of infants worldwide.

"We are grateful for the enthusiastic support from our leading investors this second close; it's especially inspiring that they believe in our mission so much that they were able to bring additional investors to the table to help us surpass our goals," said Timothy Brown, CEO of Evolve BioSystems, Inc. "The most recent funding will help our team continue to prove, alongside world-renowned research collaborators, that this particular strain of B. infantis in the infant gut microbiome could be the missing link for prevention of potentially irreversible conditions starting earlier in infancy than previously thought."

Evolve BioSystems, Inc. is the manufacturer of Evivo®, a proprietary groundbreaking probiotic proven to resolve Newborn Gut Deficiency, which studies have shown affects more than 90% of babies in the U.S. Evivo contains activated B. infantis EVC001 which restores key bacteria to the infant gut and guides critical development of infants' digestive and immune system. Evivo works by favorably altering gut biochemistry to reduce potentially pathogenic bacteria by 80 percent which in turn significantly reduces intestinal inflammation. Those pathogens and the inflammation which they cause are linked to higher risk of both short- and long-term health issues including colic, diaper rash, eczema, asthma, allergies and even Type 1 Diabetes.

"Evivo is a groundbreaking product that has the potential to help millions receive better nutrition in infancy and thus maintain better health throughout their lives," said Gabrielle "Ellie" Rubenstein, Co-Founder and CEO of Manna Tree. "We are proud to continue to invest in and actively support a company that can have a major impact on the health of babies today, as well as future generations. When we shared the scientific studies and growth opportunity with our esteemed group of investors, they shared our enthusiasm and passion for making an impact."

Evivo has been a magnet for researchers globally since the initial peer-reviewed papers elucidated a unique mechanism of action not previously shown with live microbial, or probiotic, products. Now, thanks to the foresight and generosity of outside donors and researchers, Evivo has been, or is currently being studied for a range of different uses including treatment of malnutrition, prevention of atopic dermatitis, reduction of gut and systemic inflammation in term and pre-term infants and, most recently, prevention of Type 1 Diabetes. There are now more than a dozen peer-reviewed papers reporting on its safety and efficacy in infants, with two more already accepted and in press.

"We are pleased to see Evolve BioSystem maintain its momentum through this recent round of fundraising," said Chuck Warta, president of Cargill's health technologies business. "We are looking for solutions that improve digestive and immune health at all stages of life to help nourish the world in a safe, responsible and sustainable way and Evivo shows great promise in our efforts to do just that."

For more information on Evolve BioSystems, Inc. and Evivo, visit www.evolvebiosystems.com or www.evivo.com. To learn more about the investors, visit Manna Tree at www.mannatreepartners.com and www.Cargill.com.

About Evolve BioSystems, Inc.

Evolve BioSystems, Inc. is a privately-held leading microbiome company dedicated to discovering and implementing solutions that improve the short and long-term health of infants worldwide. Launched at the University of California, Davis, following more than a decade of pioneering research at the Food for Health Institute, Evolve is a portfolio company of Horizons Ventures, Cargill, Manna Tree Partners, The Bill & Melinda Gates Foundation, and Johnson &Johnson Development Corporation. Since 2014, Evolve has built substantial science and technology assets, focused on the nutrition, biochemistry, physiology of the developing infant gut microbiome. The company's breakthrough research shows that nine out of ten U.S. infants are suffering from Newborn Gut Deficiency, a dramatic shortage of key good bacteria in the infant gut microbiome. Together with clinical research partners all over the world, Evolve is on a mission to establish B. infantis EVC001 as standard-of-care for all infants – for a better life-long health trajectory.

About Cargill

Cargill's 155,000 employees across 70 countries work relentlessly to achieve our purpose of nourishing the world in a safe, responsible and sustainable way. Every day, we connect farmers with markets, customers with ingredients, and people and animals with the food they need to thrive.

We combine 155 years of experience with new technologies and insights to serve as a trusted partner for food, agriculture, financial and industrial customers in more than 125 countries. Side-by-side, we are building a stronger, sustainable future for agriculture. For more information, visit Cargill.com and our News Center.

About Manna Tree

Manna Tree is a Vail, Colorado-based investment firm committed to improving human health through nutrition. The firm invests in and actively partners with growth-stage companies. We believe the future of health, well-being and longevity is attainable through innovation in food. Manna Tree has made six investments to date: Evolve Biosystems, Vital Farms, Verde Farms, MycoTechnology, Nutriati, and Gotham Greens. www.mannatreepartners.com.

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SOURCE Evolve Biosystems

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