Enveda raises $311M at $2B valuation to advance AI-discovered drugs
The Colorado biotech's Series E doubles its valuation as it moves three drug candidates into later-stage trials.
What to know
- Enveda's $311M Series E doubles its valuation to $2B, bringing total capital raised to over $845M since 2019.
- The company is advancing three drug candidates into late-stage trials: one for eczema showing 85% severity reduction, one for weight loss maintenance after GLP-1 use, and one for inflammatory bowel disease.
- Enveda's PRISM AI platform discovers therapeutic compounds from plants and microbes rather than synthesizing molecules from scratch, with 17 drug candidates identified since 2019.
“The Boulder, Colorado company deploys an AI platform called PRISM to surface therapeutic compounds derived from plants and microbes. Rather than designing molecules from scratch, the system predicts molecular structures from mass spectrometry data, guides laboratory experiments, and ranks candidates by therapeutic potential.”
Enveda, Company description · Quartz ↗ · Sep 22
Viswa Colluru Founder and CEO, EnvedaEnveda AI biotech startupCatalio Capital Management Lead investorAlex Gorsky General partner, ICONIQ; former J&J CEO
How it unfolded 2 developments, newest first · click a bar or a number to jump articlesposts
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George Petrocheilos joins Enveda board; Alex Gorsky backs company
George Petrocheilos, co-founder and managing partner of Catalio Capital Management, joined Enveda's board as part of the financing. Alex Gorsky, a general partner at ICONIQ and former CEO of Johnson & Johnson, cited the rate of Enveda's pipeline progression as a reason for backing the company.
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$451 million into two AI biotech companies in a single morning. @enveda closed a $311M Series E led by @CatalioCapital. Their PRISM platform identifies biologically active molecules made by plants, microbes, and the human body, then ranks them by therapeutic potential so Enveda's chemists can turn...
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Enveda has collected a $311M Series E, at ~$2B post-money valuation, to fuel its pipeline into 2029 the CO and India biotech is in clinical testing w/experimental medicines for eczema, asthma & weight-loss maintenance spoke w/@enveda CEO @viswacolluru:
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background
Two Enveda drug candidates show positive early clinical results — ENV-294, a once-daily pill for atopic dermatitis, reduced eczema severity by an average of 85% after 42 days in a Phase 1b study with no serious side effects; Phase 2 trials are underway. ENV-308, targeting weight loss maintenance after GLP-1 cessation, was well tolerated in 88 healthy volunteers with a favorable gastrointestinal side-effect profile. ENV-6946 targets inflammatory bowel disease and is in Phase 1 testing.
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background
Enveda advances three drug candidates into late-stage development — The company plans to use the new capital to move three clinical-stage candidates into later-stage trials, bring additional medicines into clinical testing for inflammatory and metabolic conditions, and expand its PRISM AI platform for discovering compounds from plants and microbes.
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Enveda closes $311M Series E funding round
The Boulder, Colorado AI biotech closed a $311 million Series E financing round, doubling its valuation to approximately $2 billion. Catalio Capital Management led the round, with participation from new investors including Durable Capital Partners, ICONIQ, Lightspeed, Surveyor Capital, and T. Rowe Price Investment Management, along with existing investors Baillie Gifford, Premji Invest, and Lux Capital. Total capital raised since founding exceeds $845 million.
“The industry has gotten really, really good at commercializing a molecule once you know it's right, but has increasingly gotten worse at finding the right molecule. We're letting AI lead the way for answers that already exist in nature.”
— Viswa Colluru -
3 outlets first by FinSMEs, 5h ago · also Yahoo Finance, TechCrunch · read ↗
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first by Quartz, 5h ago · also Business Wire, WSJ Tech
2 more headlines
- Enveda Raises $311 Million From Leading AI and Biotech Investors to Bring Pharma Into the 21st Century Business Wire · 5h ago
- AI Biotech Enveda Doubles in Value to $2 Billion Wall Street Journal · 5h ago
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Get the most important and interesting news from the global economy delivered to your inbox. https:// qz.com/enveda-ai-biotech-raise s-311-million-valuation-2-billion-092326?utm_source=flipboard&utm_medium=activitypub Posted into Business News @ business-news-quartz
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The round valued the AI biotech at $2 billion. It is currently testing drugs that treat skin conditions and preserve weight loss after stopping GLP-1s. https:// techcrunch.com/2026/09/23/enve da-secures-311m-to-bring-more-nature-derived-ai-drugs-into-clinical-trials/?utm_source=dlvr.it&utm_medium=mastodon
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