CFO Intelligence Magazine – Fall 2024
Andy Drechsler
Altesa Acting CFO
When Andy Drechsler joined the biopharmaceutical company Provention in April 2017 as a finance-infrastructure consultant, he saw the job as more than just a stepping stone to the CFO spot (he took that position on in August of that year). Instead, joining the startup which was ultimately acquired by Sanofi in 2023 for $2.9 billion in cash was part of a personal quest.
“Provention was pursuing and later received approval for TZIELD, which delays the onset of type one diabetes by several years,” he said. “That was deeply personal to my wife and me, since three of our children are Type 1 diabetics.” With Type 1 diabetes, a person’s pancreas makes little or no insulin. This impedes or prevents their body from absorbing sugar (glucose) and causes life-threatening complications. Currently, Type 1 diabetes has no cure. Treatment is typically directed to managing the amount of sugar in the blood using exogenous insulin, diet, and fitness in an attempt to limit complications.