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Enveda Raises $311M to Accelerate AI-Driven Drug Discovery from Natural Sources

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Enveda, a biotech startup specializing in the use of AI for drug discovery from natural sources, has secured a $311 million Series E funding round, valuing the company at $2 billion.

  • The funding was led by Catalio Capital Management along with participation from Iconiq and other investors.
  • This round doubles the company’s valuation from the previous year, highlighting its rapid growth and investor confidence.
  • Viswa Colluru, Enveda’s founder and an early employee of Recursion Pharmaceuticals, established the company in 2019 to revolutionize drug discovery by leveraging AI.
  • The company's mission is to find powerful medicines from plants and microbes instead of synthesizing them in labs.
  • While AI-derived drugs have not yet achieved FDA approval, Enveda is actively progressing AI-discovered drug candidates to human clinical trials.
  • Currently, Enveda is testing drugs that tackle severe skin conditions and aid in maintaining weight loss post-treatment with GLP-1s.