From TechCrunch · Marina Temkin · · 1m 20s
Enveda raises $311M to test AI-found drugs
The biotech startup that hunts medicines in nature just doubled its valuation with fresh funding for clinical trials.
In brief
The biotech startup that hunts medicines in nature just doubled its valuation with fresh funding for clinical trials. Enveda raised three hundred eleven million dollars at a two billion dollar valuation to advance AI-discovered drugs from plants and microbes into human testing. Originally reported by TechCrunch.
Enveda raises $311M in Series E
Biotech startup Enveda closed a three hundred eleven million dollar Series E round led by Catalio Capital Management at a two billion dollar valuation.
Valuation doubles in one year
The funding round doubles Enveda's valuation from one billion dollars twelve months ago, signalling investor confidence in the company's approach.
Founder Viswa Colluru's vision
Viswa Colluru, an early Recursion Pharmaceuticals employee, founded Enveda in twenty nineteen to use AI to discover drugs from plants and microbes rather than synthesizing them in labs.
AI drugs entering human trials
While no AI-discovered drug has yet won FDA approval, Enveda is among companies advancing AI candidates into clinical trials with patients.
Two drugs in active testing
Enveda is currently testing several drugs in patients, including one for severe skin conditions and another to maintain weight loss after stopping GLP-one medications.
Fresh capital accelerates pipeline
The three hundred eleven million dollars will fund advancement of more nature-derived drug candidates through clinical development stages.
Here's the gist
Enveda raised three hundred eleven million dollars at a two billion dollar valuation to advance AI-discovered drugs from plants and microbes into human testing.
