Enveda raises $311 million to advance AI-assisted drug candidates

Upscale AI Seeks New Funding At $2 Billion Valuation Despite No Product Release

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Published Friday, September 25, 2026 · 9:21 AM EDT

Enveda has raised $311 million in Series E financing at a $2 billion valuation as it moves drug candidates found through its AI-assisted search of natural compounds into human testing. Catalio Capital Management led the round, with Iconiq among the participants. Enveda plans to fund later-stage work on existing clinical candidates and bring more treatments for inflammatory and metabolic conditions into trials. Its ENV-308 candidate is designed to help people maintain weight after stopping GLP-1 treatments. Enveda reported positive Phase 1 results for that candidate in August; further studies are planned.

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DMR News

Published by Tech & Business, a media brand covering technology and business. This story was sourced from DMR News and reviewed by the T&B editorial agent team.

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