Enveda

Viswa Colluru founded Enveda in 2019 to combine machine learning with natural-product drug discovery.⁠[2]

The company raised a $51 million Series A led by Lux CapitalLux CapitalLux Capital is a U.S. venture capital firm founded in 2000 by Peter Hébert, Josh Wolfe and Robert Paull, with offices in New York and Silicon Valley. Focused on emerging science and technology, the firm backs companies in fields including life sciences, artificial intelligence, robotics, manufacturing, aerospace and defense through fund investments and by helping to found companies.Open the full entry, with participants including Two Sigma Ventures. Funding supported platform and team expansion and experimental validation of natural-molecule leads.⁠[2]

Enveda announced a $68 million Series B led by Dimension, bringing total capital raised to $124 million. The round combined equity and debt to support its internal pipeline and platform; the full amount was not new equity investment.⁠[3]

Kinnevik led a $51 million Series B1, taking the combined B and B1 rounds to $119 million and total capital raised to $175 million. The $119 million figure was the combined amount, rather than fresh capital from this extension alone.⁠[4]

Enveda introduced MS2Mol, an algorithm predicting chemical structures from metabolite mass spectra, and described the approach in a preprint. It supports identification and prioritization of natural molecules, with predictions forming part of an experimental research process.⁠[5]

Enveda introduced PRISM and a MicrosoftMicrosoftMicrosoft is a technology company founded by Bill Gates and Paul Allen in 1975 and headquartered in Redmond, Washington, with businesses spanning Windows, Microsoft 365, Azure, enterprise software, artificial intelligence, gaming and devices.Open the full entry collaboration using Azure compute. The company said the foundation model learned from more than a billion unlabeled mass spectra through masked-data reconstruction, supporting downstream predictions of molecular structures and properties.⁠[6]

Enveda raised a $55 million Series B2, with participants including Premji InvestPremji InvestPremji Invest is an investment firm established by Azim Premji in 2006, operating across private and public markets in India and the United States, with investment returns primarily supporting the philanthropic work of the Azim Premji Foundation. Its investment areas include technology, financial services, consumer, healthcare and industrials.Open the full entry, Lingotto, Microsoft and The Nature Conservancy. Total capital reached $230 million, supporting platform development and progression of candidates toward clinical studies.⁠[7]

In November, Enveda reported that ENV-294 had received FDA clearance for clinical investigation and that its first participant was dosed in late October. The oral anti-inflammatory candidate targets conditions including atopic dermatitis. Trial clearance is distinct from marketing approval.⁠[8]

Kinnevik and FPV led a $130 million Series C, bringing total funding to $360 million. Enveda reported ten development candidates and planned to support clinical studies, additional pipeline programs and its platform.⁠[9]

Following an investment from Sanofi, Enveda’s Series C increased to $150 million in total. The announcement highlighted ENV-294 development in atopic dermatitis and asthma. The figure represents the expanded round, rather than Sanofi’s individual investment.⁠[10]

Enveda reported results from a randomized, double-blind, placebo-controlled ENV-294 study in healthy adults, with no reported dose-limiting toxicity or serious adverse events. Its safety committee supported progression into patient studies. Early tolerability findings required further clinical evaluation.⁠[11]

Premji Invest led a $150 million Series D. Enveda also announced first-patient enrollment in its ENV-294 Phase 1b study and appointed former Pfizer R&D leader Mikael Dolsten to its board. Proceeds supported clinical development and new trial applications.⁠[12]

Enveda announced parallel randomized, double-blind, placebo-controlled Phase 2a trials in atopic dermatitis and asthma. The studies assess skin-disease measures and pulmonary function respectively, alongside continued safety evaluation.⁠[13]

On December 17, Enveda reported FDA trial clearance for ENV-308 and first-participant dosing in the preceding week. The program targets obesity and metabolic disease. Nadeem Sarwar joined to lead disease-prevention and metabolic strategy.⁠[14]

After FDA trial clearance, ENV-6946 began Phase 1 as Enveda’s third clinical program. The oral small molecule is being developed for inflammatory bowel disease, initially assessing safety, tolerability and pharmacokinetics in healthy volunteers.⁠[15]

An open-label ENV-294 study enrolled nine adults for 28 treatment days followed by 14 days off treatment. Enveda reported an average 85% EASI reduction at day 42. The small, uncontrolled study cannot establish long-term efficacy or comparative benefit.⁠[16]

Enveda reported tolerability findings for ENV-308 in 88 healthy volunteers and reduced circulating leptin. The trial was not designed to test weight loss. Maintaining weight after GLP-1 discontinuation remained a question for subsequent human studies.⁠[17]

Catalio led a $311 million Series E, taking total capital above $845 million. Proceeds were intended for three clinical programs and PRISM. Catalio co-founder George Petrocheilos joined the board. The announcement specified that the candidates remained unapproved investigational agents.⁠[18]

CDP was evaluated on four batch records totaling 1,061 pages from one campaign. Across runs it matched 11 human findings; a timed run added seven. It was not validated as a GMP computerized system and remained advisory, with humans responsible for final decisions.⁠[19]

Enveda reported four hours for Claude to draft substantial portions of IND Module 2, versus roughly three months for a comparable manual draft; neither included expert review. A separate Investigator’s Brochure was submitted with the IND after a unit-conversion correction. Submission did not constitute drug approval.⁠[20]