Envisagenics, a New York-based Artificial Intelligence-driven biotechnology company focused on the discovery and development of novel RNA splicing therapeutics, secured Series A financing to scale its drug discovery platform and biopharmaceutical partnerships.
Red Cell Partners led the financing, which included investments from Microsoft's M12, Madrona Venture Group, Third Kind Venture Capital, Dynamk Capital, and Empire State Development's venture capital arm, New York Ventures.
Company: Envisagenics, Inc.
Raised: Undisclosed
Round: Series A
Funding Month: September 2021
Lead Investors: Red Cell Partners
Additional Investors: Microsoft's M12, Madrona Venture Group, Third Kind Venture Capital, Dynamk Capital, and Empire State Development's venture capital arm, New York Ventures
Company Website: http://envisagenics.com/
Software Category: Discovery platform
About the Company: Envisagenics is an Artificial Intelligence-driven biotechnology company that focuses on the discovery of novel RNA splicing events that cause cancer and other genetic diseases. Its principal technology is the SpliceCore® discovery platform. The platform re-envisions the human genome with a validated exon-centric approach, combined with machine learning algorithms and high-performance computing. It is up to 250 times more likely to discover novel targets than gene-centric discovery tools. Using innovative technology and RNA analysis expertise, Envisagenics accelerates the development of highly specific therapeutics that modulate RNA splicing events that drive the pathogenesis of oncology, neurodegenerative, and metabolic disorders. Envisagenics a minority- and a woman-led company that partners with biopharmaceutical companies and academic institutions to advance its drug discovery capabilities using its AI/ML platform. Envisagenics also has its own internally developed RNA therapeutic programs.
Source: https://www.prnewswire.com/news-releases/envisagenics-raises-series-a-financing-to-scale-its-ai-powered-rna-splicing-drug-discovery-platform-301387305.html