TLDR:
- Envisagenics, a NYC-based biotechnology company, raised Series B funding from existing and new investors, including Bristol Myers Squibb.
- The company will use the funds to further develop its pipeline of novel preclinical oncology assets and scale its commercial offerings.
Envisagenics, an AI-driven biotechnology company based in NYC, recently announced a successful Series B fundraising round of an undisclosed amount. The funding was contributed by existing investors Third Kind Venture Capital, Empire State Development, and Red Cell Partners, as well as new strategic investor Bristol Myers Squibb. This investment comes after a previous collaboration between Envisagenics and Bristol Myers Squibb in 2022.
Founded in 2014 as a spin-out from Cold Spring Harbor Laboratory, Envisagenics is focused on the discovery and development of novel RNA splicing therapeutics. The company, led by co-founder and CEO Maria Luisa Pineda, Ph.D., utilizes its cloud-based AI drug discovery platform, SpliceCore, to identify disease-specific targets through its extensive map of over 14 million RNA splicing events.
This latest funding round will enable Envisagenics to further develop its pipeline of novel preclinical oncology assets and scale its commercial offerings. The company has previously established collaborations with Biogen and the Lung Cancer Initiative at Johnson & Johnson, in addition to Bristol Myers Squibb.
