BenevolentAI (OTC:BAIVF), a company using artificial intelligence (AI) to speed up drug discovery, has announced the return of its founder, Kenneth Mulvany, as executive chairman.
It comes as the company aims to capitalise on the growing role of AI in the healthcare industry.
Mulvany, who founded BenevolentAI (OTC:BAIVF) in 2013, brings years of experience in both biotechnology and AI, having led Proximagen Group to one of the largest biotech sales in 2012.
He returns to BenevolentAI to help drive its vision of revolutionising drug discovery through AI, which has already led to a US Food and Drug Administration (FDA) approval for an AI-discovered drug and partnerships with major pharmaceutical companies.
In addition to Mulvany’s appointment, Michael Brennan, a co-founder of the company, has been named chief strategy and financial officer, further strengthening the leadership team as the company focuses on growth.
"To fully unlock its value, we need leadership that can navigate the intricate interplay of AI technologies and their role in shaping the future of drug discovery and development," said the newly appointed chairman.
"BenevolentAI has helped create this future as a founding member of this sector and a trusted partner among leading pharmaceutical companies.
"We hold a unique position, fortified by significant and long-term investment in AI, aiming to drive healthcare innovation and enhance AI adoption across the industry. I look forward to leading the Company in this goal."