Enveda Biosciences, a drug discovery platform and biotech company, raised $68 million in a series B funding round and debt financing agreement.
The company's platform uses machine learning and metabolomics to identify new compounds. Enveda will use the financing to advance the leading compounds to the clinical stage, according to a Dec. 21 Enveda news release.
Dimension led the funding round that brought the company's total capital raised to $124 million.
"While we are prioritizing building and advancing our internal pipeline, we will continue to forge partnerships with industry-leading pharmaceutical and biotech companies in a variety of therapeutic areas, including inflammation, fibrosis, and other chronic diseases." Enveda Chief Business Officer Vanitha Sekar, PhD, said.