Enveda Biosciences hits unicorn status with $517 million in funding
Technology
Enveda Biosciences, a biotech company from Boulder, just joined the $1 billion club. Founded in 2019, they use AI to turn plants into new medicines.
With a fresh $150 million funding round (bringing total funding to $517 million), Enveda has already launched its first clinical trial and plans two more soon.
The startup's 1st drug comes from a plant used for asthma
Enveda started by studying 38,000 medicinal plants and narrowed it down to 12,000 that matter across cultures.
Their AI digs deep into these plants to find promising compounds—an approach that caught the eye of former Pfizer research chief Mikael Dolsten, now on their board.
Their first drug in trials comes from a plant long used for asthma and eczema, and they're also working on treatments like a new weight-loss drug.