546: When Speed to Market Matters Most | Richard Steinhart, CFO, Bioxcel Therapeutics

When asked what sets BioXcel Therapeutics apart from other clinical-stage biopharmaceutical companies, CFO Richard Steinhart doesn’t mention a specific drug or therapy. Instead, he describes a system that the company developed to advance the speed with which drugs are commercialized. According to Steinhart, the biotech company’s system uses artificial intelligence to reveal “hidden connections” that, once exposed, can multiply opportunities for the application of certain drugs. “Good drug developers can see first connections between drugs and diseases and they are pretty apparent to everyone out there, but second- and third-degree connections are not apparent,” explains Steinhart, who says that such connections have been too time-consuming and expensive to expose in the past. “The last company I was with took 10 years to go from the discovery (of a drug to the licensing of the discovery to a phase two trial,” adds Steinhart, who reveals that it was BioXcel’s system for shortening the path to commercialization that first attracted him. –Jack Sweeney Do you want to learn more about the experiences that shaped today’s finance leaders? GO PREMIUM with CFO Thought Leader and each quarter we will ship you our CFO Thought Leader Quarterly Magazine featuring profiles of 25 different CFOs (4 issues, per yr.). What’s more, become a PREMIUM member before February 1, 2020 and we’ll ship you THE CFO Yearbook 2020 featuring 100 CFO profiles. Go Premium today learn more