Enveda raises $311 million to advance AI-discovered natural drugs in clinical trials
Biotech startup Enveda secured $311 million in Series E funding to move nature-derived AI drugs into human clinical trials.
Funding leads valuation increase
Catalio Capital Management led the investment round with participation from Iconiq and other partners. This financing doubles the company's valuation compared to the amount achieved twelve months ago. The startup now operates at a $2 billion valuation following this successful capital raise.
Focus on natural drug discovery
Enveda aims to harness medicines from plants and microbes instead of synthesizing them in a lab. Founder Viswa Colluru established the company in 2019 after working as an early employee at Recursion Pharmaceuticals. The firm uses artificial intelligence to speed up the process of finding new drug candidates.
Current patient testing progress
The startup is currently testing several drugs in patients for severe skin conditions and weight maintenance after stopping GLP-1s. Although AI has not yet produced any FDA-approved drugs, Enveda joins a wave of companies advancing candidates into human trials.
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