Biotech Startup Enveda Receives $311 Million for AI-Powered Drugs
Enveda, which conducts AI-based natural drug discovery, has completed a major investment round, raising its valuation to $2 billion.
Biotechnology startup Enveda, which transforms compounds derived from nature into drug candidates using artificial intelligence, has successfully closed a $311 million Series E funding round for new clinical trials.
Details of the Investment Round
The $311 million Series E investment round by Enveda was led by Catalio Capital Management. This new financing, which also featured Iconiq and other participants, doubled the company's valuation in the past year to reach $2 billion.
Drug Development from Natural Sources
The company's core approach involves deriving powerful medicines from plants and microbes rather than synthesizing drugs from scratch in a laboratory. Artificial intelligence technologies are utilized to accelerate this process.
Clinical Trials and Objectives
Founded in 2019 by Viswa Colluru, a former employee of Recursion Pharmaceuticals, the startup is among the companies moving AI-discovered candidates into human clinical trials. Testing is ongoing in areas such as severe skin conditions and weight maintenance.