AI Biotech Funding
Enveda Therapeutics Secures $311 Million in Series E Funding to Advance AI-Driven Drug Trials
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ENV-294 is being developed as a once-daily oral treatment for both atopic dermatitis and asthma; in a Phase 1b study, it reduced eczema severity by an average of 85% after 42 days, with no serious side effects reported.
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ENV-308 was tested in 88 healthy volunteers and showed a favorable gastrointestinal side-effect profile, supporting its development as a treatment to help patients maintain weight loss after discontinuing GLP-1 medications.
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Enveda says its PRISM platform has generated 17 drug candidates since 2019, including three that have entered human trials; the system uses mass-spectrometry data to predict molecular structures, guide laboratory experiments and rank compounds by therapeutic potential.
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The financing included a broad group of new investors—including Durable Capital Partners, ICONIQ, Lightspeed, Surveyor Capital, Digitalis Ventures, T. Rowe Price-advised accounts, a sovereign wealth fund and Alderline Group—alongside returning investors such as Baillie Gifford, Premji Invest and Lux Capital.
AI-powered biotech startup Enveda Therapeutics has raised $311 million in Series E funding, bringing total capital to over $845 million. BioCentury reports the Boulder, Colorado company will use the money to push three experimental drugs into advanced human trials while expanding its AI platform that discovers medicines from natural sources like plants and microbes.
The funding round was led by Catalio Capital Management and included new investors like ICONIQ, Lightspeed, and Surveyor Capital. HLTH notes Enveda's PRISM platform has generated 17 drug candidates since 2019, with three now in human testing. Early results show promise: one eczema drug reduced severity by 85% in early trials.
Eczema Drug Shows Strong Early Results
ENV-294, designed as a once-daily oral pill, reduced eczema severity by an average of 85% after 42 days in Phase 1b testing. Indian Pharma Post reports the drug showed no serious side effects in early studies, making it a promising candidate for atopic dermatitis and asthma treatments. The company plans to advance it into mid-stage trials using the new funding.
Weight-Loss Maintenance Drug Enters Human Testing
ENV-308 was tested in 88 healthy volunteers and demonstrated a favorable side-effect profile for the stomach and intestines. BigGo Finance explains the drug aims to help patients keep weight off after stopping GLP-1 medications, a growing market need. The treatment's tolerability in early testing supports moving into larger human trials.
AI Platform Automates Drug Discovery From Nature
Enveda's PRISM system uses artificial intelligence to scan naturally occurring molecules and predict which ones could become medicines. Archynetys reports the platform analyzes mass-spectrometry data to guide lab experiments and rank compounds by therapeutic potential. Since 2019, PRISM has produced 17 drug candidates with three now testing in humans—a pace that would traditionally take far longer.
The new funding will expand PRISM and Enveda's automated laboratory capabilities. BioCentury notes the company also plans to move additional early-stage programs into human testing. George Petrocheilos from Catalio Capital joined Enveda's board as part of the deal.
Third Drug Targets Inflammatory Bowel Disease
ENV-6946, designed for inflammatory bowel disease, represents Enveda's third program entering late-stage or mid-stage trials with the new capital. The company's three-pronged approach targets diseases affecting millions globally. Enveda now has the resources to run multiple clinical trials simultaneously while discovering and developing new candidates through PRISM.
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