In this week’s edition of InnovationRx, Thyme Care gets new leadership, the intestinal illness spreads, Chai Discovery confirms its $400 million raise, and more. To get it in your inbox, subscribe here.

Thyme Care founder Robin Shah will step down as CEO, effective September 1, six years after launching the company to help patients navigate their cancer care. Taking over: Dr. Brad Diephuis, a primary care physician and cancer survivor, who has been the company’s co-president and chief operating officer for the past two years.

“We found our Steve Ballmer,” Shah tells Forbes, noting that he knew—even if Diephuis didn’t—when they first met five years ago that this would be his succession plan for the business.

The leadership change comes just nine months after Thyme Care reached a valuation of $1.1 billion, roughly double what it was worth at its previous funding in 2024. The Nashville-based startup has raised a total of $275 million from investors that include CVS Health Ventures, Humana, Foresite Capital, Town Hall Ventures and Andreessen Horowitz.

Shah, 39 and an alum of oncology data company Flatiron Health (acquired by Roche for $1.9 billion in 2018), will become executive chairman of the company. In that role, he’ll lead Thyme Care’s expansion into new areas that include drug affordability and clinical trial access, with help from AI and automation. “My number one focus is let’s make sure the patient wins,” he says.

Cofounder Dr. Bobby Green, 60, a medical oncologist and also an alum of Flatiron Health, will remain in his role as president and chief medical officer.

Management changes at VC-backed startups often come at inflection points, whether because a company has hit a roadblock or because it’s preparing to go public. At Thyme Care, the business looks strong: Revenue surpassed $125 million last year, roughly five times that of 2024, and it’s on track to more than double this year. The business is profitable. It currently manages........

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