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“If you want to create a company that adds value you have to find something wrong or identify some inefficiency in an industry and correct for it.”
Terren PeizerEntrepreneur's Journey
Terren Peizer has been called a “financial prodigy” by the LA Times and the “Zelig of Wall Street” by the New York Times. He holds a B.S. in Economics from the University of Pennsylvania Wharton School of Business. He was recruited to Goldman Sachs when he was 21 years old and worked in senior executive positions in other investment banking firms including First Boston and Drexel Burnham Lambert. After his boss, Michael Milken, was indicted for securities fraud and insider trading, Peizer left the stock trading world and moved into senior executive and board member positions with growth companies. He worked at Urethane Technologies, a tire manufacturer, CMS Enhancements-a computer parts producer, Hollis-Eden (a pharmaceutical company), and Cray Inc. (a supercomputer developer). In 2004, Peizer founded the Acuitas Group Holdings (a private investment and holdings company). Since then, he has founded multiple companies in the biotech space including Ontrak, BioVie, NeurMedix, and EarthPlastix. He is also a Chairman of a blockchain company Casperlabs.
Innovation brought by the entrepreneur:
Ontrak combines AI capabilities, predictive analytics, evidence-based psychosocial and medical interventions to identify people who can benefit from behavioral changes to improve chronic health conditions and influence them to take the necessary steps to improve their health outcomes. The benefit to society from this technology is tremendous because it directly improves health and reduces healthcare costs for individuals. It also reduces healthcare expenditures for the community. Peizer’s company EarthPlastix is developing plant-based compostable bio-degradable plastic products that could significantly reduce pollution and rates of climate change. Peizer’s BioVie is developing innovative drugs to treat rare liver diseases with the potential to save thousands of lives. NeurMedix of which he is founder, chairman and CEO, is working to use biotechnology to combat inflammatory, neurological, and neurodegenerative diseases. These innovations have significant social benefits in terms of improving the environment and people’s health.
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