Enveda Biosciences

Enveda Biosciences takes a distinctive angle on AI drug discovery: mining the chemistry of nature. Plants, microbes and the human body produce an enormous, largely unexamined universe of small molecules. Enveda's platform, PRISM, is a foundation model trained on that chemistry: it predicts molecular structures from mass-spectrometry data, guides laboratory experiments to reveal what the molecules do, and ranks them by therapeutic potential, after which Enveda's chemists refine the best into oral medicines.

Founded in 2019 by Viswa Colluru, an early employee of Recursion, Enveda says the approach has produced 17 development candidates, three of them now in human trials. The furthest along, ENV-294, is a once-daily pill for eczema and asthma. In a Phase 1b study, eczema severity improved by an average of 85 percent after 42 days with no serious side effects, and Phase 2 trials are under way. ENV-308 is meant to help people keep weight off after they stop taking GLP-1 medicines, and was well tolerated in 88 healthy volunteers. ENV-6946, for inflammatory bowel disease, is in Phase 1. In September 2026 Enveda closed a Series E of 311 million dollars led by Catalio Capital Management, taking its total funding past 845 million dollars.

Enveda shows that AI-for-discovery is not only about designing molecules from scratch. It can also be about reading the molecules nature already made. The clinical results so far are early and company-reported: no drug discovered with AI has yet won approval, and Phase 2 is where most candidates fail.