Stevens has started four biotechnology companies (Syrrx (1999), MemRx (2002), Receptos (2009), and RuiYi (2011)), all focused on structure based drug discovery and each company started with one of his former Ph.D. students.
*Syrrx, started with UC-Berkeley Ph.D. student Nathaniel David and colleague Peter G. Schultz, was acquired by Takeda Pharmaceuticals in 2005 for the high-throughput structure based drug discovery platform, and because of a phase II clinical candidate alogliptin known to inhibit the enzyme DPPIV and is now an approved drug known as Nesina. 
*MemRx, started with Ph.D. student Mike Hanson and Jun Yoon, was acquired by Sagres Discovery in 2003 for the membrane protein expression technologies, and the combined entity was later acquired by Novartis in 2005. 
*Receptos, started with Ph.D. students Mike Hanson, Chris Roth and staff scientist Mark Griffith along with TSRI colleagues Hugh Rosen and Ed Roberts, focused on GPCR structure based drug discovery with a primary interest in inflammation and oncology. On July 14, 2015, Celgene announced that it will buy Receptos for $7.32 billion in cash. The S1P1 agonist was approved for patients with MS in March, 2020 under the brand name Zeposia and sold by BMS.
*In 2011, Stevens, with Paul Grayson and his former TSRI graduate student Fei Xu, started RuiYi, a biologics GPCR company located in Shanghai, China. The company was acquired by Anaphore in 2012.  The company currently has one drug in phase II clinical trials for RA and a drug in place for liver fibrosis.
*In 2018, Stevens, with former students Mike Hanson and Jun Yoon, started Structure Therapeutics, a company focused on converting biologics to small molecules using next generation structure-based drug discovery to make best in class medicines accessible to all. The company currently has two drugs in clinical trials for pulmonary and metabolic diseases.