Enveda secures another $150M to fast-track nature-based drug pipeline

Enveda Biosciences has raised $150M in a Series D round to push multiple natural product-inspired drug candidates, including its eczema drug ENV-294, into mid-stage clinical trials.

Why it matters: The funding boosts Enveda’s total to over $500M, reinforcing investor confidence in its AI-powered platform for rediscovering natural compounds as viable drug candidates. This could reshape treatment options for conditions like eczema, asthma, IBD, and obesity.

Backstory: While many pharma companies moved away from natural products, Enveda is reviving the model with advanced tech to scan and optimize molecules derived from living organisms. Its last $150M Series C round, backed by Sanofi in February, funded a phase 1 trial of ENV-294.

Big picture: Enveda’s approach signals a shift in drug discovery, fusing nature with AI to find safer, more effective therapies. Its success could revitalize a field once sidelined by synthetic drugs and open doors for new treatment classes.

Zoom in: ENV-294 targets eczema and asthma, with claims of combining JAK inhibitor efficacy and IL-4/IL-13 drug safety. This medication has a massive addressable market with over 31 million Americans having eczema.

What’s next: Enveda will likely be able to benefit from bringing to its board Mikael Dolsten, ex-Pfizer CSO, who will be guiding the R&D strategy and is credited with bringing over 150 drugs to clinical trials. Two other drug assets, ENV-6946 (IBD) and ENV-308 (obesity), are scheduled to enter trials later this year.