Envisagenics Raises Series B to Fuel AI-Enabled Novel Therapeutic Pipeline and Expand Depth and Breadth of Commercial Offerings
Envisagenics, a biotechnology company specializing in RNA splicing therapeutics, has completed a Series B funding round. The round included existing investors Third Kind Venture Capital, Empire State Development, and Red Cell Partners, along with new strategic investor Bristol Myers Squibb (NYSE: BMY).
The funds will be used to advance Envisagenics' pipeline of preclinical oncology assets using its AI drug discovery platform, SpliceCore®. This platform integrates machine learning and high-performance computing to identify novel splicing isoforms.
Envisagenics has collaborations with Biogen, the Lung Cancer Initiative at Johnson & Johnson, and Bristol Myers Squibb. CEO Maria Luisa Pineda stated that the funding will aid in developing immunotherapies and disease-modifying ASOs for neurodegenerative diseases. The goal is to advance their first asset into clinical trials.
- Envisagenics raised Series B funding with new investor Bristol Myers Squibb.
- Funding will support the development of novel preclinical oncology assets.
- SpliceCore AI platform integrates ML and HPC to identify new splicing isoforms.
- Established collaborations with Biogen, the Lung Cancer Initiative at Johnson & Johnson, and Bristol Myers Squibb.
- Profitable company with a strong AI/ML platform.
- Potential dilution of shareholder value due to new funding round.
- No immediate clinical assets; still in preclinical stages.
- Dependency on future successful development and commercialization of pipeline assets.
Insights
Envisagenics' Series B fundraising signals a strong vote of confidence from existing and new investors, including Bristol Myers Squibb, a major player in the pharmaceutical sector. This round will
From an investment perspective, this development suggests potential growth opportunities for Envisagenics. The involvement of Bristol Myers Squibb not only brings substantial capital but also strategic collaboration that could propel Envisagenics' research and commercialization efforts. For stakeholders, the primary takeaway is the strengthened financial position and expanded research capabilities, which could lead to significant advancements in the biotech space.
In the short term, this news could result in positive sentiment around Envisagenics, possibly leading to a boost in its stock value. In the long term, the success of their drug discovery efforts and subsequent commercial success will be the key factors determining sustained investor interest and returns.
Envisagenics' focus on RNA splicing therapeutics positions them at the forefront of cutting-edge biomedical research. The SpliceCore® platform's integration of machine learning and high-performance computing to identify disease-specific splicing isoforms is a promising technological advancement. This could potentially revolutionize targeted therapy in oncology and other diseases by enabling the development of highly specific treatments.
The strategic partnership with Bristol Myers Squibb and other significant collaborations with Biogen and Johnson & Johnson's Lung Cancer Initiative add further credibility. It indicates a strong industry validation of their technology and research approach. The allocation of Series B funds towards developing immunotherapies and disease-modifying therapies for neurodegenerative diseases could lead to breakthrough treatments, thereby addressing unmet medical needs.
For retail investors, understanding the potential clinical benefits and the market need for such therapies can provide insight into the long-term value and impact of Envisagenics' projects.
Envisagenics' announcement highlights a key trend in the biotech industry: the growing role of AI and ML in drug discovery. The use of these technologies to sift through extensive RNA splicing data can significantly accelerate drug development processes and reduce costs, offering a competitive edge. The participation of established investors and industry giants like Bristol Myers Squibb underscores the market's confidence in AI-enabled biotech solutions.
This Series B round not only reinforces Envisagenics' market position but also underscores the commercial potential of their products. With SpliceCore®, Envisagenics is positioned to offer comprehensive commercial solutions, potentially disrupting traditional drug development methodologies. Investors should note the competitive landscape and track the progress of their commercial partnerships, as these will be critical indicators of market penetration and revenue growth.
Overall, this development could enhance Envisagenics' market share and long-term sustainability, making it a noteworthy player in the biotech sector.
Proceeds from the Series B financing will be used to further develop Envisagenics' pipeline of novel preclinical oncology assets with the company's cloud-based AI drug discovery platform, SpliceCore®, and to scale its commercial offerings. SpliceCore integrates machine learning (ML) algorithms with high performance computing to identify novel and disease specific alternative splicing isoforms using its proprietary database of more than 14 million RNA splicing events.
The funding follows a Series A round announced in September 2021, which enabled Envisagenics to scale and commercialize its platform. Since then, the company has established collaborations with Biogen and the Lung Cancer Initiative at Johnson & Johnson, in addition to Bristol Myers Squibb.
"Today, as a profitable company with a strong AI/ML platform, a brilliant team, and world-class collaborations, we are focused on product and asset development to improve patients' lives," said Maria Luisa Pineda, Ph.D., Envisagenics co-founder and CEO. "Funding from this round will primarily be used to drive our developmental pipeline, including immunotherapies for multiple indications in oncology and disease-modifying ASOs for neurodegenerative diseases, with the goal of advancing our first asset into the clinic. Along with the continued support of our existing investors, we're very pleased to welcome Bristol Myers Squibb as a new investor."
About Envisagenics
Envisagenics is an AI-driven biotechnology company harnessing the therapeutic potential of RNA splicing. Over
Envisagenics collaborates closely with biopharmaceutical companies and academic institutions to elevate their drug discovery capabilities and has partnered with the Lung Cancer Initiative at Johnson & Johnson, Biogen and Bristol Myers Squibb. Founded in 2014 as a spin-out from Cold Spring Harbor Laboratory, Envisagenics is a woman- and minority-led organization, with several grants from esteemed institutions like the National Institute of General Medical Sciences and the National Cancer Institute.
For more information on our groundbreaking work, connect with us on Twitter and LinkedIn or visit https://www.envisagenics.com.
Media Contact
Katie Morris, PhD
ENTENTE Network
+1-833-500-0061 x7
katiemorris@ententeinc.com
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SOURCE Envisagenics, Inc.
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