Enveda raises $311M to push three AI-discovered drugs through trials
Colorado-based Enveda raised a $311 million Series E led by Catalio Capital Management, reportedly at a $2 billion valuation. That brings its total funding to more than $845 million. Enveda uses AI to identify and rank molecules from plants and microbes as drug candidates. It has three programs in human testing: ENV-294 for atopic dermatitis and asthma, now in Phase 2a; ENV-308 for obesity; and ENV-6949, which targets TL1A for inflammatory bowel disease.
Why it's notable: This is one of the largest private rounds this year for an AI drug-discovery company. It gives Enveda funding for several mid-stage trials, a real test of whether AI-found compounds hold up in patients.