Enveda Biosciences, a Boulder, Colo.-based biotechnology company leveraging nature’s chemistry to develop next-gen small molecule therapeutics, raised $51M in Series A funding.
The round 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.
The company intends to use the funds to advance its existing portfolio of lead molecules and discoveries through preclinical development and ramp up recruitment efforts to expand its team across metabolomics, machine learning, medicinal chemistry, and biology.
Led by Viswa Colluru, Founder and CEO Enveda applies machine learning and metabolomics to extract medicinal value from plants. Leveraging machine learning and metabolomics, the company’s platform operates like a search engine, predicting novel chemistry at scale. This novel chemistry is then used to generate multiple high-confidence biological datasets in-house, leading to rapid identification of molecules with desired biological activity and organ distribution. These candidates then undergo in vivo and in vitro validation in Enveda’s lab, yielding drug candidates and completing a data-feedback loop into the Enveda platform.
Enveda is on track to advance multiple lead molecules derived from plants, including candidates for Wilson’s Disease, NASH, and Parkinson’s disease, among others.