Demystifying Drug Discovery, Ray Stevens, CEO, Structure Therapeutics

Synopsis: In this episode of the Biotech 2050 podcast, host Rahul Chaturvedi engages in a thought-provoking conversation with Ray Stevens, a prominent figure in the biotech industry who co-founded Structure Therapeutics. Ray's extensive experience and pivotal role in advancing structure-based drug discovery make him a compelling guest for biotech entrepreneurs seeking to navigate the challenges of entrepreneurship and funding strategies. The episode delves into Ray's journey as a serial entrepreneur, the evolution of structure-based drug discovery, and the strategies employed by Structure Therapeutics to drive innovation and create impactful treatments for global health challenges. Ray's insights into the changing funding environment, the impact of distributed teams on value creation, and the significance of shared passion and mission in a company's success offer valuable knowledge for industry professionals and entrepreneurs. His reflections on the industry's future trends and the personal growth aspect add a relatable and human element to the discussion, making it a valuable resource for individuals at all career stages. Biography: Dr. Stevens helped pioneer the field of structure-based drug discovery. He has been involved in the discovery and development of several therapeutic molecules that have become breakthrough drugs including Palnziq™, which was developed at BioMarin Pharmaceutical and approved in 2018 to treat phenylketonuria. Dr. Stevens also founded Receptos which developed Zeposia™—a GPCR agonist targeting the S1PR1 receptor approved in 2020 for multiple sclerosis and 2021 for ulcerative colitis. Prior to Structure, Dr. Stevens founded the Bridge Institute at the University of Southern California (USC), and the iHuman Institute at ShanghaiTech University. He was previously a tenured chaired chemistry professor at Scripps Research and before that, an assistant professor of chemistry at the University of California, Berkeley. Dr. Stevens’ laboratory and students have launched several successful biotech startups including Syrrx (acquired by Takeda), MemRx (acquired by Chiron/Novartis), Receptos (acquired by Celgene/BMS), and RuiYi (now Bird Rock Bio). A prolific scholar, Dr. Stevens has authored more than 400 peer-reviewed publications and received several academic and industry awards. Dr. Stevens conducted postdoctoral research in structural biology at Harvard University with William Lipscomb, who was awarded the Nobel Prize for Chemistry in 1976. Dr. Stevens earned his Ph.D. in chemistry from USC with Robert Bau and George Olah, the latter of whom received the Nobel Prize for Chemistry in 1994. He completed his undergraduate degree in chemistry from the University of Southern Maine.