Enveda Biosciences Raises $68 Million in Series B Funding

by Kay Aloha Villamor in December 28th, 2022

Enveda Biosciences, a Boulder, CO-based biotechnology company, announced that it closed a $68 million in Series B equity and debt financing, bringing its total raised to $124 million.

The round was led by Dimension, which included participation by multiple new institutional investors, including FPV, Jazz Venture Partners, Level Ventures, Amino Collective, Allen & Co., and Possible Ventures.

All of Enveda’s current major investors, including True Ventures, Lux Capital, Wireframe Ventures, Hummingbird Ventures, and Two Sigma Ventures, also participated in the round.

The financing will support the advancement of these lead compounds to clinical candidacy across a number of important targets and pathways, including cytokine-receptor interactions, GPCRs, and the inflammasome pathway.

“We are thrilled to have this incredible group of investors, both new and current, participate in our Series B round,” said Viswa Colluru, Ph.D., founder, and CEO of Enveda. “Our investors are leaders in biotech, providing the capital we need to build our pipeline while laying the foundation for an even stronger syndicate going forward. Their support will enable us to advance our leading programs into clinical testing and scale our platform across emerging modalities such as protein degradation and stabilization. We’re excited to continue these efforts and cement our leadership in non-genomics-based natural product discovery.”

Enveda’s novel drug discovery platform uses metabolomics and machine learning to identify new compounds with distinct properties that overcome key challenges with small molecules.

Company: Enveda Therapeutics, Inc.

Raised: $68.0M

Round: Series B

Funding Month: December 2022

Lead Investors: Dimension

Additional Investors: FPV, Jazz Venture Partners, Level Ventures, Amino Collective, Allen & Co, Possible Ventures, True Ventures, Lux Capital, Wireframe Ventures, Hummingbird Ventures, and Two Sigma Ventures

Company Website: https://www.envedabio.com/

Software Category: Drug Discovery Platform

About the Company: Enveda Biosciences is a biotechnology company building the first high-resolution chemical map of the natural world to tackle the toughest problems in drug discovery. Enveda’s platform is the world’s most advanced drug discovery search engine for the expanse of nature’s unknown chemistry, building on years of cutting-edge advancements at the intersection of metabolomics and machine learning. Complementing its breakthrough technology, Enveda’s team includes seasoned drug hunters with decades of experience in the pharmaceutical industry who work with world-leading data scientists.

Source: https://www.businesswire.com/news/home/20221221005152/en/Enveda-Biosciences-Closes-68-million-Combined-Series-B-Equity-and-Debt-Financing



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