Enveda secured a $311 million Series E to advance its AI-driven drug discovery platform and expand its clinical pipeline. The nature- and microbe-derived approach relies on AI for candidate identification and ranking, followed by chemist-led development, with multiple programs now in human testing. Enveda said three oral drug candidates are in clinical trials, including ENV-294 for atopic dermatitis and ENV-308 aimed at metabolic health and weight maintenance after stopping GLP-1 receptor agonists. A third program, ENV-6949, targets the TL1A pathway for inflammatory bowel disease. The funding was led by Catalio Capital Management with major investors participating, underscoring how investors are financing “execution in the clinic” for platform companies that can produce multiple first-in-class hypotheses from the same discovery engine.