Enveda Biosciences Raises $311M Series E to Advance AI-Designed Drug Pipeline

Enveda Biosciences, a Colorado-based AI drug discovery company, said Wednesday it raised $311 million in Series E financing, a sum rivaling several biotechnology IPOs completed this year. The round was led by Catalio Capital Management with 16 other investors, including Surveyor Capital, T. Rowe Price, Lux Capital and a sovereign wealth fund. The company will use the proceeds to advance its drug pipeline through clinical trials. Three candidates are in human testing: ENV-294, an oral "molecular glue" for atopic dermatitis and asthma now in Phase 2; ENV-308, a pill mimicking the exercise-linked hormone Lac-Phe for weight maintenance after GLP-1 discontinuation; and ENV-6949, targeting the TL1A pathway for inflammatory bowel disease. Enveda previously raised more than $530 million in venture funding, including a $150 million Series D in 2025. The company uses AI to identify molecules in plants and microbes and predict their drug potential.