Five years after launching Enveda with $55,000 of personal savings, Viswa Colluru, PhD, CEO, saw his initial investment in the AI-powered developer of plant-based treatments more than pay off recently when the company completed a $130 million Series C financing.
Enveda says its latest financing is intended to help the company further develop its platform and its pipeline of 10 development candidates and “multiple” additional discovery programs, with plans to deliver on clinical benchmarks in 2025 and 2026 after having just advanced its lead program into Phase I studies earlier this fall.
Enveda’s pipeline is led by ENV-294, a first-in-class, oral small molecule being developed to treat atopic dermatitis and other inflammatory conditions by combining the advantages of blockbuster drugs now marketed for the skin disorder.
According to Enveda, ENV-294 is designed to deliver the safety of injectable drugs that treat atopic dermatitis (AD) by blocking the interleukin (IL)-4 and…
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