Enveda secured a $311 million Series E to advance its AI-driven drug discovery pipeline, the company said, with a stated focus on moving three oral candidates in clinical trials toward later-stage development. Two programs, ENV-294 for atopic dermatitis and ENV-308 for metabolic health and weight maintenance, reported positive early clinical results earlier this year. The nature-chemistry platform backing the pipeline, PRISM, generated 17 development candidates to date, Enveda said, and the financing is intended to scale platform execution while expanding the clinical development bench. The company noted its total capital raised since inception now exceeds $845 million. Catalio Capital Management led the round, joined by new investors including Durable Capital Partners, ICONIQ, Lightspeed, Surveyor Capital, Digitalis Ventures, and Alderline Group, alongside existing backers such as Baillie Gifford and Lux Capital. CEO and founder Viswa Colluru framed the round as a shift from platform validation to execution in the clinic. For biotech investors, the deal underscores continued appetite for AI-enabled discovery-to-clinic operators—especially those with measurable human data and a near-to-mid stage pipeline ramp.