Enveda Biosciences Closes $51M Series A Financing Led by Lux Capital
By: Colorado BioScience Association Date: 06/22/2021
Enveda Biosciences, a leading biotechnology company harnessing the power of nature’s chemistry to develop next-gen small molecule therapeutics, today announced an oversubscribed $51M Series A funding round. The financing was led by Lux Capital, with participation from Two Sigma Ventures, Hummingbird VC, Catalio Capital, Lifeforce Capital, and Matthew De Silva of Notable Labs along with existing investors True Ventures, Wireframe Ventures, Village Global, and Chris Gibson of Recursion.
Nature is the greatest source of therapeutics we know, yet 95 percent of the natural world is a chemical mystery. Enveda is systematically exploring this unknown space to unlock its potential for new medicines with the first high-resolution chemical map of the natural world. This new investment will further power Enveda’s data-driven approach to screening, validating, and developing high-potential natural compounds into first-in-class clinical candidates.
“We see this investment as validation of a renaissance in natural product drug discovery,” said Viswa Colluru, the company’s Founder and CEO. “This field can be transformed through recent advances in automation, machine learning, and metabolomics. At Enveda, we’re bringing all of these technologies together to unlock the vast untapped potential of natural products in the form of highly translatable medicines.”
Enveda was founded in 2019 to apply cutting-edge machine learning and metabolomics to a 50,000-year-old human practice: extracting medicinal value from plants. The natural world has given rise to countless transformative medicines, including aspirin, statins, and morphine. However, extracting active compounds from nature has often been notoriously slow and imprecise. As a result, at the end of the 20th century many drug discovery programs shifted to a higher throughput, target-based approach.
Find out more in the press release.