Enveda Biosciences, a biotechnology company using AI to translate nature into new medicines, has announced a new financing round of $55 million to add to its $119 million 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.
 
Enveda’s proprietary platform solves the long-standing 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. Enveda’s 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. Close on its heels is another novel first-in-class anti-inflammatory that inhibits multiple cytokine signaling cascades in the gut to achieve robust efficacy in models of inflammatory bowel disease.
 
“The investors who joined in this round recognize our rapid progress, as well as our expansive potential and vision,” says Viswa Colluru, Ph.D., CEO and Founder of Enveda. “In combination with our deep bench of top tier investors, we are in an ideal position to advance our novel medicines into the clinic and to bring hope to waiting patients.”
 
The closing of this Series B2 round brings the total capital that Enveda has raised to $230 million.