Enveda Biosciences raised a $311 million Series E to advance its AI-driven pipeline, positioning the company as one of the best-capitalized “AI-native” drug discovery startups in the market. The financing, led by Catalio Capital Management, brings Enveda’s total funding since inception to more than $845 million. Enveda says it will use the proceeds to advance three oral candidates in human testing, including ENV-294 (atopic dermatitis) and ENV-308 (metabolic and weight maintenance after stopping GLP-1 therapy), after positive early results reported earlier this year. A third candidate targets inflammatory bowel disease via the TL1A pathway. Beyond pipeline progression, the funding is also framed as a scale-up push for PRISM, Enveda’s platform that identifies development candidates from plant and microbial chemistry—an approach that continues to attract both healthcare and technology investors.