In a significant boost to its mission of translating nature into new medicines through the power of artificial intelligence, Enveda Biosciences announced that it has raised $55 million in a new financing round. This latest investment brings the total for its Series B and B1 rounds to an impressive $119 million, marking a total capital raise of $230 million to date. The fresh influx of capital will fuel further development of Enveda’s pioneering drug discovery platform, which leverages cutting-edge AI technologies to overcome long-standing challenges in natural product drug discovery.

Enveda’s proprietary platform addresses key obstacles in the field, including the identification of active molecules, prioritization of their properties and structures, amenability to medicinal chemistry, and access to large-scale material. This breakthrough approach has already led to the nomination of a sixth New Chemical Entity (NCE) Development Candidate and is driving the parallel Phase I clinical development of the company’s top three lead programs, set to enter trials later in 2024 and early 2025.

One of Enveda’s most promising candidates is a novel oral anti-inflammatory agent for atopic dermatitis, which has shown remarkable efficacy and a high safety margin in preclinical studies. Another leading program targets inflammatory bowel disease with a novel anti-inflammatory that inhibits multiple cytokine signaling cascades in the gut, demonstrating robust efficacy in model systems.

“At Premji Invest, we seek to partner with exceptional teams to build companies that can create long-term value. We are excited by Enveda’s potential to deliver new, safe and efficacious treatments for complex conditions, pushing the boundaries of AI and ML in life sciences,” said Sandesh Patnam, Managing Partner at Premji Invest. “Enveda has made significant progress in creating a platform that learns from the diversity in natural chemistry and is able to translate this knowledge to develop novel therapeutics. We look forward to the new discoveries which can bring hope to millions of patients worldwide.”

“We're proud to support Enveda as we see its potential for long-term, open-ended growth due to the broad utility of their technology for solving some of the toughest challenges facing human and planetary health,” says Morgan Samet, Partner and Co-Head – Lingotto Investment Management. “Viswa is the type of founder we are excited to back, given his resourcefulness, tenacity, and vision.”

“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.”

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