Enveda Biosciences Secures $55M in Series B2 Funding to Advance AI-Powered Drug Discovery
Enveda Biosciences is at the forefront of integrating AI technologies into the drug discovery process, specifically leveraging the vast untapped potential of natural products.
Company Name: Enveda Biosciences
Location: Boulder, CO
Sector: Biotechnology
Funding Details: Raised $55m in Series B2 funding, bringing the total capital raised to $230m. New investors include Premji Invest, Lingotto Investment Fund, Microsoft, and The Nature Conservancy, alongside existing investors Kinnevik, True Ventures, FPV, Level Ventures, and Jazz Venture Partners.
Purpose of Investment: To support further development of Enveda’s AI-powered drug discovery platform and the parallel Phase I clinical development of the company’s top 3 lead programs.
Leadership: Led by CEO and Founder, Viswa Colluru, Ph.D.
Product: Enveda is pioneering the use of AI in translating nature’s chemistry into new medicines. Its proprietary platform addresses key challenges in natural product drug discovery, such as active molecule identification, prioritization of properties and structure, amenability to medicinal chemistry, and scaling material access. The platform has already led to the nomination of six New Chemical Entities (NCEs) for development.
About Company: Enveda Biosciences is at the forefront of integrating AI technologies into the drug discovery process, specifically leveraging the vast untapped potential of natural products. The recent funding will aid in advancing Enveda’s platform capabilities and support the clinical development of its lead programs, including a novel treatment for atopic dermatitis expected to enter clinical trials by early 2025. This program has shown promising efficacy and safety in preclinical studies, positioning it as a potential first-in-class oral anti-inflammatory treatment.