Envisagenics, a New York-based biotechnology company leveraging AI for RNA splicing therapeutics, has secured a Series B funding round.
Investors
Existing investors Third Kind Venture Capital, Empire State Development, and Red Cell Partners, alongside new strategic investor Bristol Myers Squibb (NYSE: BMY) participated in the round.
Envisagenics Use of Funds
The company will use the funds to further develop its pipeline of preclinical assets and scale its commercial offerings.
About Envisagenics
Founded in 2014, Envisagenics is an AI-driven biotechnology company that leverages artificial intelligence (AI) to discover and develop novel RNA splicing therapeutics. The company focuses on creating treatments for various diseases, particularly in oncology and neurodegenerative conditions. Their flagship platform, SpliceCore®, integrates machine learning algorithms with high-performance computing to identify unique and disease-specific alternative splicing isoforms from a vast proprietary database of RNA splicing events. The company has partnered with the Lung Cancer Initiative at Johnson & Johnson, Biogen, and Bristol Myers Squibb.
Funding Details
Company: Envisagenics, Inc.
Raised: Undisclosed
Round: Series B
Funding Month: June 2024
Investors: Third Kind Venture Capital, Empire State Development, Red Cell Partners, Bristol Myers Squibb
Company Website: https://www.envisagenics.com/
Software Category: Drug Discovery
Source: https://www.prnewswire.com/news-releases/envisagenics-raises-series-b-to-fuel-ai-enabled-novel-therapeutic-pipeline-and-expand-depth-and-breadth-of-commercial-offerings-302164037.html