BOULDER — Enveda Therapeutics Inc. has raised $68 million in a combined debt and equity fundraising round and is on track to unveil several clinical treatment candidates in the new year.
The company, which does business as Enveda Biosciences, uses artificial intelligence to identify potential therapeutics that occur in nature. Enveda is working on pre-clinical research into treatments for nonalcoholic steatohepatitis and Wilson’s Disease, two conditions where fat and copper build up in the liver.
The Series B round, which comes on the heels of a 2021 Series A round that raised $51 million, was led by Dimension Ventures, and “was precipitated by breakthrough milestones from the company’s platform that quickly translated to highly differentiated pipeline assets,” Enveda said in a news release. “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,[G protein coupled receptors], and the inflammasome pathway.”
In total, Enveda has raised $124 million.
“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,” Enveda CEO Viswa Colluru said in the release. “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.”