Key Highlights
- Enveda Biosciences raises $55 million in new funding.
- Total Series B funding now at $230 million.
- New investors include Premji Invest, Lingotto Investment Fund, Microsoft, and The Nature Conservancy.
- Funding to support clinical trials of Enveda’s top 3 lead programs.
- Focus on AI-driven drug discovery and development.
Source: Business Wire
Notable Quotes
- “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.” — Sandesh Patnam, Managing Partner at Premji Invest
- “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.” — Morgan Samet, Partner and Co-Head at Lingotto Investment Management
- “The investors who joined in this round recognize our rapid progress, as well as our expansive potential and vision. 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.” — Viswa Colluru, Ph.D., CEO and Founder at Enveda
SoHC's Take
Enveda Biosciences’ recent $55 million financing round signifies a significant milestone in the company’s journey towards revolutionizing drug discovery using AI. This funding will not only propel the clinical development of their promising lead programs but also underscore the growing confidence of top-tier investors in Enveda’s innovative approach. With a robust platform capable of overcoming traditional obstacles in natural product drug discovery, Enveda is poised to make substantial contributions to treating complex conditions such as atopic dermatitis and inflammatory bowel disease. The backing from influential investors like Premji Invest and Microsoft highlights the broad applicability and transformative potential of Enveda’s AI-driven technologies in advancing human health.
