Enveda's platform uses AI to accelerate drug discovery, with a focus on small molecules, which are the active ingredients in about 90% of pharmaceutical drugs. The company has developed a database of these molecules, particularly those found in plants, and uses a technique called tandem mass-spectrometry to identify and measure unknown compounds. The results are interpreted using an internally-developed AI model based on the Transformer architecture. The database is accessible through a Google-like interface, allowing scientists to find compounds with specific chemical properties using natural language descriptions.
Key takeaways:
- Enveda Biosciences Inc. has raised $55 million in funding to support its research in using artificial intelligence to develop new medicines.
- Microsoft Corp. was among the investors and will provide Enveda with not only capital but also cloud computing credits.
- Enveda is developing a platform that uses AI to speed up parts of the drug discovery process, with a focus on small molecules found in plants.
- The funding will be used to enhance its platform and support two drug development programs aimed at discovering new ways of treating skin conditions and bowel disease.