Enveda Biosciences secured a $311 million Series E round to advance multiple AI-designed oral drug candidates through clinical development and scale its nature-derived discovery platform, PRISM. The company said three programs are in human testing, including early-positive reports for ENV-294 in atopic dermatitis and ENV-308 in metabolic health. The financing underscores renewed investor appetite for AI drug discovery companies that can point to clinical signals, not just platform capabilities. Enveda’s strategy centers on first-in-class mechanisms and scaling candidates into later-stage studies while continuing to generate additional development leads. With the round led by Catalio Capital Management and joined by technology- and growth-oriented investors, Enveda is positioning itself for a longer clinical runway as it prepares for additional readouts across inflammation and metabolic indications.