Enveda Biosciences, a Boulder, CO-based biotechnology company using AI to translate nature into new medicines, raised a new financing round of $55m to add to its $119m combined Series B and B1.
New investors Premji Invest, Lingotto Investment Fund, Microsoft, and The Nature Conservancy participated in the round alongside existing investors Kinnevik, True Ventures, FPV, Level Ventures, and Jazz Venture Partners.
The closing of this Series B2 round brings the total capital that Enveda has raised to $230m.
Led by Viswa Colluru, Ph.D., CEO and Founder, Enveda is a drug discovery and development company using the latest AI-powered technologies to translate nature into new medicines. The company’s proprietary platform solves obstacles in natural product drug discovery including active molecule identification, property and structure prioritization, amenability to medicinal chemistry, and large-scale material access.
This new funding will be used to support further development of Enveda’s platform, which recently led to the nomination of a sixth New Chemical Entity (NCE) Development Candidate, and parallel Phase I clinical development of Enveda’s top 3 lead programs, which are slated to enter clinical trials later in 2024 and early 2025. The lead program for atopic dermatitis is a novel oral first-in-class anti-inflammatory agent that has demonstrated remarkable efficacy and high safety margins in preclinical studies.
FinSMEs
16/06/2024