June 22, 2021 1:02:43 pm

Boulder’s Enveda raises $51M Series A round

By Lucas High

BOULDER — Enveda Therapeutics Inc. has closed a $51-million Series A fundraising round led by Lux Capital.

The company, which does business as Enveda Biosciences, is using artificial intelligence to identify potential therapeutics that occur in nature. The company 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.

“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.”

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In addition to Lux, participants in the Series A included Two Sigma Ventures, Hummingbird VC, Catalio Capital, Lifeforce Capital, and existing investors such as True Ventures, Wireframe Ventures, Village Global, and Chris Gibson of Recursion.

“There is so much latent potential in the natural world and so many hard-to-treat diseases that lack any therapeutic option,” said Zavain Dar, partner at Lux Capital. “We’re excited to partner with Viswa and this uniquely talented team that is digitizing the world’s chemistry to map the future of small molecule drug discovery.”