BenevolentAI CEO Departs as Founders Reclaim Leadership Roles
BenevolentAI has appointed Ken Mulvaney as executive chairman, with Joerg Moeller stepping down as CEO after just nine months in the role, effective immediately.
The UK drug discovery company specializing in artificial intelligence, which recently underwent significant restructuring and cuts to staff and R&D, announced it requires fresh leadership to move forward.
Mulvany, an entrepreneur and investor, has worked for nearly 30 years at the intersection of biotechnology, deep tech, and AI in healthcare.
As founder and CEO of Proximagen Group, Mulvany led the biotech firm in developing neurodegenerative disease treatments, overseeing multiple M&A, financing, and licensing deals. In 2012, Proximagen was sold to Upsher-Smith Laboratories for $553 million.
He founded BenevolentAI in 2013, growing it into a techbio leader. He served as chairman until 2021 and rejoined the board in May 2024.
In addition, Mulvaney has held advisory roles on the UK Government’s AI strategy board and Oxford Sciences Innovation’s advisory board. He also chaired the Trustees for the Cure Parkinson’s Trust from 2013 to 2018 and is known for his philanthropic work.
“When we founded BenevolentAI, our vision was to harness the power of AI to tackle healthcare’s most pressing challenges,” Mulvaney said.
“We have since developed one of the world’s most advanced and validated AI drug discovery and development platforms, achieved the first FDA approval for an AI-identified drug, secured partnerships with global pharmaceutical leaders, and built a robust pipeline of potential first-in-class medicines for unmet medical needs.”
He noted that the company has only started to tap into the platform’s “incredible potential.”
To fully realize its value, Mulvany emphasized the need for leadership that can navigate the complex relationship between AI and the future of drug discovery.
“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,” he added.
“I want to give my warmest and heartfelt thanks to Joerg for his commitment and stewardship of BenevolentAI and wish him all the best in his future endeavours.”
In yet another management transition at BenevolentAI, co-founder Michael Brennan has been appointed chief strategy and financial officer and will also join the board as an executive director. He returns to the company after two years in the fintech and AI technology sectors.
The techbio firm states that the streamlined Board is designed for agility and cost-effectiveness while maintaining the industry-leading experience necessary to leverage the increasing momentum behind AI in drug discovery and development.
“The Board of BenevolentAI is delighted to appoint Ken to lead the Company. With his unique insight and extensive experience, alongside the support of Michael Brennan and the established BenevolentAI leadership team, we are convinced that the Company is best placed to capitalise on its future growth potential,” Peter Allen, deputy chairman of BenevolentAI, added.