Envisagenics, a NYC-based AI-driven revenue generating biotechnology company focused on discovery and development of novel RNA splicing therapeutics, raised a Series B fundraising round of undisclosed amount.
Backers included existing investors Third Kind Venture Capital, Empire State Development and Red Cell Partners, and new strategic investor Bristol Myers Squibb (NYSE: BMY). Bristol Myers Squibb previously entered into an oncology research collaboration with Envisagenics in 2022.
The company intends to use the funds to further develop its pipeline of novel preclinical oncology assets with its cloud-based AI drug discovery platform, SpliceCore®, and to scale its commercial offerings.
Founded in 2014 as a spin-out from Cold Spring Harbor Laboratory, and by Maria Luisa Pineda, Ph.D., co-founder and CEO, Envisagenics is an AI-driven biotechnology company leveraging an extensive map of over 14 million RNA splicing events to enable the discovery of disease-specific targets.
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.
FinSMEs
05/06/2024