Enveda raises $311M at $2B to push AI-discovered, nature-derived drugs into clinical trials
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Catalio Capital led Enveda's Series E with Iconiq participating, doubling its valuation in 12 months. The company, founded by Recursion alum Viswa Colluru, uses AI to mine plant and microbial chemistry. It is testing candidates for severe skin conditions and for keeping weight off after patients stop GLP-1s. No AI-discovered drug has FDA approval yet, so the trials are where this gets tested.