Biotech Firm Enveda Raises $150M, Valued at Over $1B, Using AI to Discover New Medicines from Nature

Enveda, a biotech firm, has closed a $150 million Series D, lifting its valuation above $1 billion. The company uses AI to identify potential new medicines from 12,000 plants with medicinal uses. Its first drug is entering human trials, and two more are expected to follow in the coming months. Enveda's approach combines ancient wisdom with modern AI and drug discovery, aiming to reduce the time from nature to medicine cabinet.

Enveda, a biotech firm specializing in drug discovery, has closed a $150 million Series D funding round, elevating its valuation to over $1 billion [1]. The company leverages artificial intelligence (AI) to identify potential new medicines from 12,000 plants with medicinal uses. Enveda's innovative approach combines ancient wisdom with modern AI and drug discovery techniques, aiming to expedite the journey from nature to medicine cabinet.

Enveda's first drug candidate is currently undergoing human trials, with two more expected to enter clinical testing in the coming months. The company's success in rapidly advancing drug candidates aligns with broader industry trends, where AI is increasingly being adopted for faster and cheaper discovery and safety testing [1]. This shift is driven by a push from regulatory bodies such as the FDA to reduce animal testing in the near future.

The investment in Enveda reflects a growing trend in the biotech sector, where firms are adopting AI-driven technologies to accelerate drug development. For instance, Recursion Pharmaceuticals' AI-based drug discovery platform moved a molecule into clinical testing in just 18 months, significantly faster than the industry average of 42 months [1]. This efficiency is expected to lead to substantial cost savings and shorter timelines for bringing new drugs to market.

Enveda's strategy also mirrors the broader shift in the industry towards "new approach methodologies" (NAMs) that use AI, computer-based modeling, and human-based models such as organs-on-chips to predict drug efficacy and safety [1]. These methods are seen as a complement to traditional animal testing, with industry experts predicting a hybrid approach in the near future.

The funding round for Enveda is part of a broader trend in the biotech sector, where investors are increasingly backing innovative companies that utilize cutting-edge technologies. Cathie Wood's ARK ETF, for example, has been actively investing in biotech firms like CRISPR Therapeutics and Intellia Therapeutics, indicating a strong conviction in the sector's growth potential [2].

Enveda's Series D funding round underscores the potential of AI-driven drug discovery and the growing interest from investors in innovative biotech companies. As the industry continues to evolve, firms like Enveda are at the forefront of transforming the drug development landscape.

References:
[1] https://www.investing.com/news/stock-market-news/aidriven-drug-discovery-picks-up-as-fda-pushes-to-reduce-animal-testing-4219458
[2] https://www.investing.com/news/company-news/cathie-woods-ark-etf-adjusts-portfolio-sells-roku-stock-buys-crispr-and-intellia-93CH-4223234