Known therapies.
Optimized delivery.
Built for FDA approval.

Steel Therapeutics is transforming access to compounded medications by pursuing FDA approval.

Steel Therapeutics is an Iowa-based pharmaceutical company focused on increasing access to life-changing therapies that have a track record of efficacy in compounding pharmacies.

With a team of founders that have been active in building both retail compounding programs and cutting-edge medical devices, Steel’s work lives at the intersection of high impact drug candidates and innovative delivery systems.

Fizurex™

Steel's first product candidate is Fizurex™, a single use, disposable wipe that utilizes a combination therapy (nifedipine & lidocaine) commonly compounded by pharmacists in cream form.

Research has shown the effectiveness of the nifedipine & lidocaine combination. The compounds increase blood flow and relax the anal sphincter which, in turn, can lead to healing rates of nearly 90%. Such compelling clinical evidence has made these drugs the treatment of choice for physicians.

By dosing effective treatment in a more patient-friendly format and securing FDA approval, Steel will drastically increase access to this life changing therapy.

Pipeline

Fizurex™ is just Steel's first product.

We are committed to leveraging our team’s insights from compounding pharmacy to take other life changing therapies from backrooms to bedsides. In the process, we are committed to improving the safety of these drugs and ensuring that they are accessible to patients at scale.

The Team

  • Matt Stahl, PharmD

    CEO & Founder

    Matt Stahl started his career in the pharmaceutical sector working with some of the industry’s largest players - including Pfizer, GSK, and Celgene - to stand up clinical trials, run KOL engagement, and spearhead new product launches. While working on a nearly full-time basis, Matt not only earned his doctorate degree in pharmacy from the University of Iowa College of Pharmacy in 2021 but also competed as a member of the school’s gymnastics program. At Steel, Matt spearheads the company’s executive team and Board, drives strategy, and leads relationships with both strategic partners as well as current and potential investors.

  • Robbie Schwenker, PharmD

    CSO & Founder

    Robbie Schwenker has been running compounding pharmacies for most of the last decade. As pharmacy manager for the regional NuCara chain since 2016, Robbie is responsible for working closely with both patients and physicians to produce customized medications that haven’t received regulatory approval. Robbie graduated from the University of Northern Iowa in 2008 with a major in chemistry and a minor in biology. His doctorate degree in pharmacy was granted by the University of Iowa College of Pharmacy in 2012. At Steel, Robbie is responsible for curating the company’s candidate pipeline and developing the strategies for building, testing, and delivering products to market.

  • Allen Phillips MBA, CMA

    CFO & Founder

    Allen Phillips is a finance leader with over seventeen years of experience working at Fortune 500 companies. Allen is a Certified Managerial Accountant (CMA). He graduated Summa Cum Laude from the University of Northern Iowa in 2003 with a major in finance and minors in both economics and accounting. He earned his MBA in 2020 from the University of Iowa and graduated with certificates in both finance and leadership, both with Distinction. As Steel Therapeutics’ Chief Financial Officer, Allen oversees all of the company’s capital deployment and has responsibility for accounting, compliance and forecasting functions.

  • Ben Clark, MBA

    President & COO

    Ben Clark is a seasoned executive with overlapping backgrounds in medical devices, AI and public policy. Ben presently serves as Executive in Residence at the University of Iowa, working with early and mid-stage companies affiliated with the University. Previously, as President of IDx Technologies, Ben was part of the team that received the first-ever clearance from FDA for an AI system that can make a medical diagnosis without the input of a physician. Ben graduated with honors from Brown University and completed his MBA at the University of Iowa. At Steel, Ben oversees the company’s operations and strategy as it scales up regulatory and clinical work.