Enveda Therapeutics secured FDA IND clearance and launched a phase I trial of ENV‑6946, a first‑in‑class oral small molecule for inflammatory bowel disease including ulcerative colitis and Crohn’s disease, the company said. The move advances Enveda’s transition from discovery to human testing. Separately, Vyriad closed a final $25 million tranche of its series B, bringing total Series B proceeds to $85 million to fund first‑in‑human testing of VV‑169, an in vivo CAR‑T candidate for relapsed or refractory multiple myeloma. Both announcements signal continued investor and regulatory momentum for novel modality entrants — small molecules with novel biology and in vivo cell‑therapy approaches — and set the stage for upcoming early‑phase readouts that could influence partnering and financing activity.