Enveda secures $311M to bring more nature-derived AI drugs into clinical trials
The round valued the AI biotech at $2 billion. It is currently testing drugs that treat skin conditions and preserve weight loss after stopping GLP-1s.
Biotech startup Enveda, which utilizes AI to discover new drugs derived from nature, has successfully raised $311 million in a Series E funding round, bringing its valuation to $2 billion. This substantial investment, led by Catalio Capital Management with support from Iconiq and other investors, doubles Enveda's valuation from the previous year.
The company's mission is to harness potent medicines from plants and microbes, rather than synthesizing them in a laboratory setting. Enveda was founded by Viswa Colluru, a former employee of Recursion Pharmaceuticals, in 2019 with the goal of accelerating the discovery of novel drugs via AI and advanced techniques. Although AI has yet to generate any FDA-approved drugs, Enveda is part of a growing trend of companies advancing AI-discovered candidates into human clinical trials.
Currently, the startup is conducting tests on several drugs in patients, including one aimed at treating severe skin conditions and another intended to support weight loss maintenance after discontinuing GLP-1 therapies.
Written by urgent.news from TechCrunch's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
