Enveda Biosciences adds $55M to Series B raise
BOULDER — Enveda Biosciences, a biotechnology company also known as Enveda Therapeutics Inc. that uses artificial intelligence to develop new medicines, recently added $55 million more to its $119 million Series B fundraising round completed in 2023.
The latest investment, which included new investors such as Premji Invest, Lingotto Investment Fund, Microsoft Corp. (Nasdaq: MSFT) and The Nature Conservancy, come as the company is set to begin several clinical trials in late 2024 and early 2025.
“Enveda’s lead program for atopic dermatitis is a novel oral first-in-class anti-inflammatory agent that has demonstrated remarkable efficacy and high safety margins in preclinical studies,” the company said in a news release. “Close on its heels is another novel first-in-class anti-inflammatory that inhibits multiple cytokine signaling cascades in the gut to achieve robust efficacy in models of inflammatory bowel disease.”
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Founded in 2019, Enveda has raised a total of about $230 million from investors.