Enveda nabs $311m to progress nature-derived drug pipeline

Colorado-based biotech company Enveda closed a Series E funding round worth $311 million to advance its pipeline of artificial intelligence-discovered drugs for inflammatory and metabolic disorders. The company's total funding raised now exceeds $845 million. Enveda will continue clinical trials of three candidates and 14 additional assets not yet in clinical development. The lead candidate is ENV-294, currently in Phase II trials for eczema and asthma, which reduced disease severity by an average of 85 percent after 42 days of treatment in a Phase Ib atopic dermatitis study. The company will also advance ENV-308, a weight loss maintenance therapy for patients stopping obesity medications, and ENV-6946 for inflammatory bowel disease. Enveda uses its AI platform PRISM to identify therapeutic compounds from plants, microorganisms, and the human body, creating 17 drugs with first-in-class mechanisms of action.