Enveda Biosciences Closes $68-million Combined Series B Equity and Debt Financing

Enveda Biosciences announced today that it had closed a $68 million equity and debt financing. Dimension was the lead investor in the Series B round. This included participation from multiple institutional investors including FPV and Jazz Venture Partners, Level Ventures as well as Allen & Co. and Possible Ventures. Enveda's innovative drug discovery platform uses machine learning and metabolomics to find new compounds that have distinct properties. This helps overcome the key problems with small molecules. Breakthrough milestones in the company's platform led to rapid development of highly differentiated pipeline assets. Viswa Colluru (Ph.D.), founder and CEO of Enveda, said, 'We are delighted to have this amazing group of investors, both current and new, participate in our Series A round. Our investors are experts in biotech and provide the capital necessary to build our pipeline, while also laying the foundation for a stronger syndicate. They will help us scale our platform in emerging modalities like protein degradation and stabilization and advance our most successful programs to clinical testing. Zavain Dar (Managing Partner at Dimension) stated that Enveda shares his mission to bring hope to patients around the world by using cutting-edge technology in life sciences. Pegah Ebrahimi (Managing Partner at FPV) said that Enveda’s success demonstrates the validity of its thesis, its promise of its technology and the efficiency and efficacy of Enveda’s distributed model. We are thrilled for Enveda's continued delivery of unique drug leads at a faster rate through the advancements it has made with their platform. Enveda Biosciences, a biotechnology company, is creating the first high-resolution chemical maps of the natural world in order to solve the most difficult problems in drug discovery. Enveda's platform, which is based on decades of groundbreaking advances in metabolomics as well as machine learning, is the most advanced drug discovery search engine. It searches for unknown chemistry within the vastness of the natural world. Enveda's team is made up of drug hunters with decades-long experience in the pharmaceutical sector and world-leading data scientists. Rod HiseDirector Corporate EMAIL