BOULDER, Colo.– Enveda, a clinical-stage biotechnology company developing small-molecule drugs derived from nature’s chemistry, announced the close of a $150 million oversubscribed Series D financing, enrollment of the first patient in its lead Phase 1b clinical trial for ENV-294 in atopic dermatitis, and the appointment of former Pfizer Chief Scientific Officer Mikael Dolsten, M.D., Ph.D., to its Board of Directors. The new funding round, led by Premji Invest with participation from Baillie Gifford, Kinnevik, Lingotto, Lux Capital, and others, brings Enveda’s total financing to $517 million.
In just five years, Enveda has grown from seed financing to unicorn status, advancing a wholly owned pipeline of novel, first-in-class small molecules across multiple therapeutic areas including atopic dermatitis, asthma, inflammatory bowel disease, and obesity. The company’s proprietary chemical sequencer platform uses AI and metabolomics to systematically decode natural chemistry and generate drug candidates four times faster and at a fraction of the cost compared to industry averages. To date, Enveda has advanced 16 preclinical programs, 12+ development candidates, and four IND-enabling programs, with ENV-294 now in the clinic.
“Nature has been running the most sophisticated R&D program on Earth for billions of years, yet nearly all of its chemistry remains unexplored,” said Viswa Colluru, Founder and CEO of Enveda. “By making this hidden language searchable and pairing it with AI and automation, we are transforming how medicines are discovered.”
ENV-294, the company’s lead asset, is an oral anti-inflammatory small molecule derived from nature that represents a new chemical class with a novel mechanism of action. Following favorable safety and tolerability data in Phase 1a studies, ENV-294 is now being tested in patients with moderate to severe atopic dermatitis.
Dolsten, who oversaw more than 150 drug candidates and 36 approvals during his tenure at Pfizer, said, “I’m proud to join Enveda, where the team has built the technology to harness the potential of life’s chemistry at scale.” His appointment adds significant expertise as Enveda advances multiple programs toward Phase 2 trials and prepares new IND filings.
