Enveda believes the next blockbuster drug is already growing somewhere, and that machine learning is the way to find it.
Investors agreed with real money. The biotech closed a $311M Series E that values it at $2B, roughly double its price tag a year ago. Catalio Capital Management led the round, with Iconiq and others joining.
Viswa Colluru started the company in 2019 after working early at Recursion Pharmaceuticals, one of the first firms to automate lab screening end to end. His version applies the same thinking to plants and microbes. Natural chemistry is messy and samples resist standardisation, which is why industry largely stopped searching it systematically.
Clinical proof is still missing across the field. No AI-designed medicine has won FDA approval from a standing start.
Enveda has candidates in human trials anyway. One targets severe skin conditions. Another is meant to keep weight off after a patient stops taking GLP-1 drugs.
That second programme explains the appetite. A treatment that holds the line after obesity therapy ends would sell into one of the largest pharmaceutical markets ever built.
