Viswa Colluru, Enveda Biosciences

A Re­cur­sion vet­er­an is map­ping plant life to chart a course to new ther­a­pies — and in­vestors like what they see

One of the ear­li­est em­ploy­ees at AI biotech Re­cur­sion Phar­ma­ceu­ti­cals is lead­ing a new com­pa­ny, and he’s just closed a hefty Se­ries A to get things mov­ing.

Enve­da Bio­sciences pulled in $51 mil­lion in the raise, the com­pa­ny an­nounced Tues­day morn­ing, with the goal of push­ing some of its pre­clin­i­cal pro­grams fur­ther along. Led by CEO Viswa Col­lu­ru, Enve­da aims to re­search how ma­chine learn­ing can uti­lize nat­ur­al bi­ol­o­gy to cre­ate new ther­a­pies for Wil­son’s Dis­ease, NASH and Parkin­son’s dis­ease, among oth­ers.

Tues­day’s fi­nanc­ing was led by Lux Cap­i­tal.

Col­lu­ru got his start at Re­cur­sion back in 2016 when the now-IPO’ed biotech was still a fledg­ling play­er. Though he tells End­points News he’s al­ways had a cu­rios­i­ty for plant bi­ol­o­gy, work­ing with Chris Gib­son gave him “the fastest crash course” in biotech one can get.

That cu­rios­i­ty led him to what he feels is the cen­tral prob­lem Enve­da is now try­ing to solve: Hu­mans have been cre­at­ing med­i­cines from plants across cul­tures for more than 50,000 years, but plant chem­i­cal space is still vast­ly un­der­ex­plored.

“I got the op­por­tu­ni­ty to learn every­thing from build­ing and scal­ing a com­pa­ny to en­ter­ing biotech with a new idea,” Col­lu­ru said. “I feel like I’ve been prepar­ing for it my whole life. What Re­cur­sion did was en­able the skill sets to try some­thing new and be OK if it failed.”

Now with Enve­da, Col­lu­ru set his sights on map­ping out na­ture’s bi­ol­o­gy. One of Enve­da’s biggest un­der­tak­ings has been cre­at­ing a high-res­o­lu­tion map to study the chem­istry of plants and learn how to ex­tract po­ten­tial new med­i­cines. High­light­ing how as­pirin, statins and mor­phine all came from the nat­ur­al world, Col­lu­ru says Enve­da us­es this map to speed along such dis­cov­ery process­es.

The com­pa­ny says it has the largest in­te­grat­ed dataset of plant chem­istry out there, one that’s con­stant­ly be­ing fed back in­to their al­go­rithms to con­tin­ue dis­cov­ery work. These ma­chine learn­ing process­es func­tion like a search en­gine, Col­lu­ru says, read­ing the “lan­guage of chem­istry” through mass spec­tra. It al­lows Enve­da to cat­a­log, an­no­tate and an­a­lyze plant bi­ol­o­gy in or­der to more ful­ly un­der­stand po­ten­tial links for drug R&D.

It’s here where the pipeline comes in­to play, as Enve­da preps two of its four pro­grams, one for Wil­son’s Dis­ease and NASH and the oth­er for Parkin­son’s, to con­tin­ue pre­clin­i­cal de­vel­op­ment. Col­lu­ru isn’t putting a time­line on when these can­di­dates might hit the clin­ic, but not­ed Tues­day’s raise gives Enve­da enough run­way for the next 24 months.

But the biotech is seek­ing to dif­fer­en­ti­ate it­self by hon­ing in on this in­ter­sec­tion be­tween ma­chine learn­ing, metabolomics and nat­ur­al prod­ucts. It’s all thanks to the map and search en­gine com­bo, which has dri­ven the in­vestor ex­cite­ment be­hind Enve­da, Col­lu­ru says.

“We’re unique in terms of po­si­tion­ing that way, but al­so in terms of ac­tu­al work,” he said. “A lot of ma­chine learn­ing com­pa­nies, orig­i­nal­ly the learn­ing was with their own cus­tom datasets. Now, there are new and unique ways to gen­er­ate those datasets. We’re us­ing our li­brary to probe new re­gions of chem­istry.”

In ad­di­tion to Lux, Enve­da saw new in­vest­ment from Two Sig­ma Ven­tures, Hum­ming­bird VC, Catalio Cap­i­tal, Life­force Cap­i­tal and Matthew De Sil­va of No­table Labs, along with ex­ist­ing in­vestors True Ven­tures, Wire­frame Ven­tures, Vil­lage Glob­al and Chris Gib­son of Re­cur­sion.

Has the mo­ment fi­nal­ly ar­rived for val­ue-based health­care?

RBC Capital Markets’ Healthcare Technology Analyst, Sean Dodge, spotlights a new breed of tech-enabled providers who are rapidly transforming the way clinicians deliver healthcare, and explores the key question: can this accelerating revolution overturn the US healthcare system?

Key points

Tech-enabled healthcare providers are poised to help the US transition to value, not volume, as the basis for reward.
The move to value-based care has policy momentum, but is risky and complex for clinicians.
Outsourced tech specialists are emerging to provide the required expertise, while healthcare and tech are also converging through M&A.
Value-based care remains in its early stages, but the transition is accelerating and represents a huge addressable market.

FDA ad­vi­sors unan­i­mous­ly rec­om­mend ac­cel­er­at­ed ap­proval for Bio­gen's ALS drug

A panel of outside advisors to the FDA unanimously recommended that the agency grant accelerated approval to Biogen’s ALS drug tofersen despite the drug failing the primary goal of its Phase III study, an endorsement that could pave a path forward for the treatment.

By a 9-0 vote, members of the Peripheral and Central Nervous System Drugs Advisory Committee said there was sufficient evidence that tofersen’s effect on a certain protein associated with ALS is reasonably likely to predict a benefit for patients. But panelists stopped short of advocating for a full approval, voting 3-5 against (with one abstention) and largely citing the failed pivotal study.

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Chat­G­PT with phar­ma da­ta de­buts for med­ical meet­ings, be­gin­ning with AACR

What do you get when you combine ChatGPT generative AI technology with specific pharma and clinical datasets? A time-saving tool that can answer questions about medical conference abstracts and clinical findings in seconds in one new application from ZoomRx called FermaGPT.

ZoomRx is debuting a public version of its generative AI product specifically for medical conferences beginning this week for the upcoming American Association for Cancer Research (AACR) annual meeting that runs April 14-19.

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Alaa Halawa, executive director at Mubadala’s US venture group

The ven­ture crew at Mubadala are up­ping their biotech cre­ation game, tak­ing care­ful aim at a new fron­tier in drug de­vel­op­ment

It started with a cup of coffee and a slow burning desire to go early and long in the biotech creation business.

Wrapping up a 15-year discovery stint at Genentech back in the summer of 2021, Rami Hannoush was treated to a caffeine-fueled review of the latest work UCSF’s Jim Wells had been doing on protein degradation — one of the hottest fields in drug development.

“Jim and I have known each other for the past 15 years through Genentech collaborations. We met over coffee, and he was telling me about this concept of the company that he was thinking of,” says Hannoush. “And I got immediately intrigued by it because I knew that this could open up a big space in terms of adding a new modality in drug discovery that is desperately needed in pharma.”

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Sanofi, Re­gen­eron boast PhI­II win with Dupix­ent in COPD, clear­ing first bar for ex­pan­sion

Dupixent, the blockbuster anti-inflammatory drug from Sanofi and Regeneron, has cleared a high-stakes Phase III study in chronic obstructive pulmonary disease, the companies announced Thursday morning.

If they hold up in a second, identical trial, the data pave the way for Dupixent to become the first biologic to treat patients whose COPD remains uncontrolled despite being on maximal standard-of-care inhaled therapy — the patient population studied in the pivotal program. The companies had spotlighted this as a key readout as they look to expand the Dupixent franchise and explore its full potential.

Quince Ther­a­peu­tics faces takeover bid from share­hold­er Echo Lake Cap­i­tal

A bid to take over the biotech Quince Therapeutics has been put forward by one of its shareholders.

On Tuesday, Echo Lake Capital sent a letter to Quince’s board of directors putting forth a proposal to acquire all the biotech’s stock for $1.60 per share, which would value a takeover at around $58 million.

In the letter, Echo Lake said that it believes Quince’s stock is severely undervalued and that no drugs are being actively marketed or developed that require cash expenditures. It’s trading below the value of its assets, Echo Lake said.

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Flare Therapeutics biochemists Yong Li (L) and Valerie Vivat

A $123M Flare will get Third Rock on­col­o­gy biotech in­to the clin­ic this year

Flare Therapeutics will start its first human trial this year with an investigational urothelial cancer drug after pulling together a $123 million Series B from Big Pharmas, VCs and its incubator, Third Rock Ventures.

Launched in 2021 on the idea that a biotech could finally succeed at drugging the much-sought-after but stubborn transcription factor, Flare Therapeutics said Wednesday it is now primed for the clinic after closing its large financing haul earlier this year. The raise is a relatively stark figure in a tough startup financing environment but further buoys the upbeat signals coming out of other Third Rock biotechs in recent weeks, including the $200 million CARGO Therapeutics and $100 million Rapport Therapeutics rounds.

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Genen­tech to stop com­mer­cial man­u­fac­tur­ing at Cal­i­for­nia head­quar­ters

Genentech is halting commercial manufacturing at its California headquarters — and laying off several hundred employees.

The move is the result of a decision Genentech made in 2007 to relocate manufacturing operations from its South San Francisco headquarters location to other facilities or move the work to CDMOs, said Andi Goddard, Genentech’s SVP of quality and compliance for pharmaceutical technical operations, in an interview with Endpoints News. Genentech has made changes in capabilities and invested more in technology, so it doesn’t need as many large-scale manufacturing facilities as it did in the past, she said.

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In­cyte wins ac­cel­er­at­ed ap­proval for PD-1 in rare skin can­cer

Incyte touted an accelerated approval for its PD-1 retifanlimab in a rare skin cancer on Wednesday, roughly a year and a half after the drug suffered a rejection in squamous cell carcinoma of the anal canal (SCAC).

Retifanlimab, marketed as Zynyz, was approved for metastatic or recurrent locally advanced Merkel cell carcinoma (MCC), a fast-growing skin cancer typically characterized by a single, painless nodule. It’s roughly 40 times rarer than melanoma, according to the nonprofit Skin Cancer Foundation — but incidence is growing, particularly among older adults, Incyte said in its announcement.