Enveda raises $311M to advance AI-discovered nature drugs — SkimNews
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- Enveda raised $311 million in a Series E at a $2 billion valuation, led by Catalio Capital Management with participation from Iconiq and others, doubling its valuation from 12 months prior
- Enveda uses AI to discover drugs from plants and microbes rather than synthesizing them from scratch in a lab
- Viswa Colluru, an early employee of Recursion Pharmaceuticals, founded Enveda in 2019 to speed up the drug discovery process
- Enveda is currently testing multiple candidates in patients, including one targeting severe skin conditions and another designed to help maintain weight loss after stopping GLP-1 drugs
- The source notes no AI-discovered drug has yet received FDA approval, positioning Enveda among the wave of companies advancing AI-discovered candidates into human clinical trials
Why it matters: Enveda now commands a $2 billion valuation as it pushes nature-derived, AI-discovered candidates into human trials — a category where no drug has yet won FDA approval. Backers Catalio and Iconiq are pricing the pipeline, which includes a severe skin condition treatment and a post-GLP-1 weight maintenance drug, ahead of any regulatory proof point.
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