I thought I didnt have much of a downside, he says. Noubar Afeyan is the founder and CEO of Cambridge, Mass. Flagship Pioneering conceives, creates, resources, and develops first-in-category life sciences companies to transform human health and . To date, 70 companies have been formed from those 89 ideas. Thats a classically big idea for Afeyan, and Repertoire has now raised more than $350 million from investors that include SoftBank and the Alaska Permanent Fund to pursue it. Pfizer CEO Albert Bourla sold about 60% of his stake in the company under a preset sale plan in November for about $5.6 million (pretax). Collectively, Moderna executives and Flagship funds have sold nearly $1.9 billion (pretax) of the companys fast-rising stock since March 2020. Born in Beirut, Lebanon, in 1962 to Armenian parents, he and his family fled the Lebanese Civil War to move to Montreal in 1975. He and his colleagues were looking for a way to deploy the messenger RNA molecule to tackle life-threatening. Afeyan describes the process as Darwinian. Founder and CEO, Flagship Pioneering. By Noubar Afeyan. Afeyan has helped start more than 70 public and private healthcare and life sciences companies over the course of his career. Immigrant-Founded Moderna Leading The Way In Covid-19 Response, A Wave Of Insider Selling Has Completed Morgan Stanleys Moderna Shuffle, 'MIT Solve' Enables Tech Entrepreneurs To Conquer Global Social Challenges, International Students Are Founding America's Great Startups, Noubar Afeyan Has Had 38 Biotech Wins. 2000 - Present23 years. (Leo Gozbekian photo). Noubar Afeyan fully understood those risks when he co-founded Moderna in 2010. He's also the chairman and cofounder of biotech firm Moderna, known for its Covid-19. Stanley Erck, the CEO of Novavaxwhich is aiming to secure FDA emergency authorization of its Covid-19 vaccine in the second quarter of 2021sold about $9.3 million (pretax) of Novavax shares in late September and early November. He observes that Mahler used to say, Jews are like swimmers with short arms, they must invest twice as much effort to reach safe shores. He was a senior lecturer at MITs Sloan School of Management from 2000 to 2016, and a lecturer at Harvard Business School until 2020. We need to leverage what we have gone through to help other people, he said. That is a huge, huge advantage. Beyond his stake in Moderna, he also owns shares in more than a dozen publicly traded biotech companies in the U.S. The representatives, when singled out, received thunderous applause. Minimum Fortune To Make the Cut Reaches A Record-Breaking $2.9 Billion And The Collective Net Worth Of The 2021 List Makers Surges To A Historic $4.5 Trillion #Forbes400 NEW YORK October 5, 20201 Forbes today released its 40th annual Forbes 400 list, the definitive ranking of the wealthiest p Shares of the Massachusetts-based biotech firm have risen by nearly 29% over the past month, pushing the net worth of the companys president, Stephen Hoge, to $1.1 billion. British author Norman Lebrecht faces the media holding his Whitbread Book of the Year Award entry, The Song of Names, in London in 2003. [1][3][2] His grandfather survived the Armenian genocide. But Afeyan didnt care what anyone else thought. Moderna, which is leading Americas response to the novel coronavirus, is a story of welcoming talent from all over the world. You cannot procrastinate over the particular move. Franklin was only 37 when she died of ovarian cancer; the many X-rays she absorbed in her lab may have been a factor. Noubar Afeyan launched 70 companies by pushing researchers to ask what if their craziest ideas were true. As the companies grow, Flagship brings in outside investors, typically raising $100 million or more, with a view toward ultimately going public. [8][9] He became a U.S. citizen in 2008. [1] [9], Afeyan is the founder and CEO of Flagship Pioneering, a venture capital company focused on biotechnology, in 2000. Others got rich making everything from personal protective equipment and diagnostic tests to antibody treatments and software that helps authorities schedule vaccination campaigns, which will be essential in reopening economies and returning to normal life. Dr. Afeyan is founder and CEO of Flagship Pioneering, a company that conceives, creates, resources, and develops first-in-category bioplatform companies to transform human health and . Armenian American entrepreneur, inventor and philanthropist Noubar Afeyan has been listed 212th on the Forbes list of 400 richest Americans. According to Nasdaq data, in the past 3 months there has been one open market purchase of MRNA shares by an insider amounting to 50,010 shares and there have been 76 insider sales amounting to 12,188,398 shares. Godha chairs Mumbai-based generic drug manufacturer Ipca Labs, which had an FDA import ban softened in March 2020 to allow it to export the antimalarial drug hydroxychloroquine to the U.S. When you are uprooted and unrooted, it is a very different feeling, leading to survival and revival. Is that, in fact, the story of the two Jewish vaccines? Flagship Pioneering Founder & CEO Noubar Afeyan, Ph.D, reflects on some of the forces shaping biotech, the areas ripe for bold leaps, and the lessons to carry forward as we continue to grapple with the ongoing global COVID-19 pandemic. 2023 Forbes Media LLC. life sciences innovation firm Flagship Pioneering. Feng Yuxia is the president of Beijing-based contract research organization JOINN Laboratories, which helped conduct clinical studies of potential Covid-19 treatments in the diseases early epicenter of Wuhan, China. The publicly traded company has a market cap of $710 million. He sold about 1.7 million shares7% of his stakefor a combined $161.2 million (pretax) since March 2020, taking advantage of the stocks blistering rise since the onset of the pandemic. Xiong Jun chairs biopharma company Shanghai Junshi Biosciences, which worked with Eli Lilly to co-develop antibody treatments for Covid-19. Here, he outlines his startup process. in the wake of domestic violence allegations by his then-wife. Ren Jinsheng is the founder and chairman of pharmaceuticals supplier Simcere Pharmaceutical Group, which increased its production of antiviral drugs arbidol and zanamivir in response to higher demand in the hopes they could help treat Covid-19. Noubar Afeyan has cofounded more than 35 successful life sciences and technology start-ups, but likely none more impactful than Moderna, Inc., which last year came up with the first mRNA-1273 COVID-19 vaccine, now protecting millions around the world from the pandemic virus. Packard, who died in 1996, described himself as a new breed of engineer, a blend of entrepreneur and innovator. He calls his model parallel entrepreneurship, meaning he wants to found multiple companies at a time, not just one or two, but six or eight. Pfizers CEO is Albert Bourla. Dunleavy is the founder of cloud-based healthcare data analytics outfit Inovalon, which is working with the U.S. Centers for Medicare and Medicaid Services to administer Covid-19 vaccines using its software platform. Its about brilliant people, all of them migrs, some Jewish, whose vaccines will hopefully save countless lives in Israel and the world. [1][2] He is best known for co-founding the biotechnology company Moderna, through his venture capital firm, Flagship Pioneering, and for co-founding humanitarian projects such as Aurora Prize and The Future Armenian. Noubar Afeyan, an immigrant from Lebanon, is the co-founder and chairman of Moderna, the company behind one of the most promising potential COVID019 vaccines. They have four children. You cannot procrastinate over the particular move. The anomaly that Jews, constituting a fraction of one percent of world population, should be responsible for almost half the breakthroughs in society, arts and the sciences between the middle of the 19th and 20th centuries, was a question that had preoccupied me for half my adult life. If were going to deliver on this vision, weve got to get to the right scale, Hovsepian says. I cant resist giving a plug to the Jewish mother theory of genius, by the legendary Israeli entrepreneur and angel investor Yossi Vardi. [5][7][3] He graduated from Loyola High School in Montreal in 1978. [2] In total, he co-founded or helped build over 50 life science and technology startups. Dr. Zaks believes the initial doses will arrive in Israel in early 2021. Gregorian is the former president of Brown University as well as the NewYork Public Library. In an interview with The Associated Press, Noubar Afeyan also reiterated a pledge Moderna made a year ago not to enforce patent infringement on anyone else making a coronavirus vaccine during the pandemic. If you do something in parallel, you are forced to get to the essence of it, he says. In June, Flagship raised $3.4 billion for a new fund, a giant pool of money even at a time when investment has been flowing to biotechnology and therapeutics. After. Watch on. Several political leaders were present at the program, including Middlesex County District Attorney Marian T. Ryan, Koutoujian, former Registry of Motor Vehicles head and Secretary of Labor Rachel Kaprielian and California State Assembly Member Adrin Nazarian. I think of it as chess. And anxiety, Lebrecht writes, impacts Jews just as the tax collectors did in Egypt it spurs them to acts of genius. He also leads the firm's VentureLabs unit that invents and launches transformative startups. It has since been expanded to 2031. And what if, he asked a decade ago, messenger RNA (mRNA) could be the basis of therapeutics? Noubar Afeyan is a serial entrepreneur Afeyan has made a career out of being a co-founder. Winner Medicals IPO on the Shenzhen stock exchange in September 2020 instantly made Jianquan, 64, a billionaire several times over thanks to his 68% stake in the company, worth $6.8 billion. If you play parallel chess, you have got to get to the essence. [32][15][2], a founding angel of Foundation for Armenian Science and Technology (FAST). Noubar Afeyan (Western Armenian: ; born in 1962) is an American-Canadian entrepreneur, inventor, and philanthropist. Dr. Noubar Afeyan, 58, is co-founder and chairman of the biotech company Moderna. Flagship Pioneering, the investor behind Covid-19 vaccine maker Moderna, said today that it had raised $3.4 billion for a new fund. But as Afeyan, an Armenian immigrant by way of Lebanon and Canada, turned on the charm Bancel, who was then CEO of French diagnostics maker BioMrieux, relented and agreed to come to Moderna. Prior to founding Flagship Pioneering, Noubar was the founder and CEO of PerSeptive Biosystems, a leader in bio-instrumentation that grew to $100 million in annual revenues. More than a few of those in the book, Lebrecht notes, fit this elusive category men and women who find the strength, in a time of crisis, to forge new paths in superhuman ways, with incredible genius for action and invention. Moderna co-founders Noubar Afeyan and Robert Langer along with early investor Timothy Springer were named to Forbes' list of the 400 richest people in the US. Shortly after the World Health Organization declared Covid-19 a global pandemic on March 11, 2020, markets collapsed and economies around the world plunged into recession. Thats a fact. Ideas that surviveas a total of 89 haveget numbers rather than names to keep founders from falling in love with a pet project that may need to be killed. The program also was a fundraiser for the maintenance of Bostons Armenian Heritage Park on the Greenway and it did not disappoint; the roughly 500 people gathered there raised $700,000. I look up to him even though he is half my size, he said, eliciting chuckles. Fireside chat: Emergent innovation. On the contrary, reviews of the UK and US editions by non-Jews have been very positive, some with an air of near-astonishment, indicating that previous historians had not connected the dots between the vast number of Jews who were active in the period. Following the completion of the sale, the director now directly owns 2,187,209 shares of the company's stock, valued at $304,022,051. James Kalustian, Founding President, Armenian Heritage Foundation; Board Chair, Rose Kennedy Greenway Conservancy with Cindy Fitzgibbon, emcee (Leo Gozbekian photo), The program featured as emcee WCVBs Cindy Fitzgibbon. Noubar Afeyan Age : 59 Public asset : 407,545,581 USD Country of residence : Unknown Linked companies : Moderna, Inc. - Omega Therapeutics, Inc. 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That mindset of parallel entrepreneurship to me was a provocation.. He points to his immigrant background and mentality as the driving forces of his philanthropic, scientific, and business work. The firm has "fostered the development of more than 100 scientific ventures, resulting in $20 billion in total value and over 500 patents. He also noted the organizations #AraratChallenge, a global crowdfunding campaign aimed at supporting those in urgent need of basic humanitarian aid around the world. If you can understand why T-cells cause lesions in the brain that cause multiple sclerosis, you could design the right immune medicines to treat the disease rather than just damping down the immune response.. Anna and Noubar are Founding Patrons of UWC Dilijan. It was only days after Pfizer announced clinical trials showed the vaccine was 90% effective at preventing COVID-19. [33] and Future Armenian public initiative. Noubar is a member of the Corporation of MIT (the Institute's governing body) and a member of the board of overseers for the Boston Symphony Orchestra. He is best known for co-founding the biotechnology company Moderna, through his venture capital firm, Flagship Pioneering, and for co-founding humanitarian projects such as Aurora Prize and The Future Armenian. Its chair and co-founder, Noubar Afeyan, a Beirut-born Armenian who immigrated to the U.S., had become fascinated by mRNA in 2010, when he heard a pitch from a group of Harvard and MIT researchers. Shares in companies producing vaccines, antibodies and other tools to combat the Covid-19 pandemic have skyrocketed since March 2020. He is also co-founder and Board Chairman of Moderna. He was living a similar life to what I live now. Flagship Pioneering, a VC fund run and majority owned by Moderna chairman and cofounder Noubar Afeyan, sold $1.4 billion of shares in late February and late March. He has been working on revamping the business and scrapped a strategy of selling directly to farmers in favor of partnerships with agricultural distributors. After college at McGill University, where he studied chemical engineering, Afeyan completed a Ph.D. in biochemical engineering at MIT in 1987. "We didn't have . . "It has been a terrible year for many, but the good times keep on rolling for the nation's richest. BOSTON Immigrants and their unique and vital contributions to the success of the US economy since the nation's founding were the dominant themes of a program paying tribute to Dr. Noubar Afeyan, biotech innovator and philanthropist, on Wednesday, September 18, at the InterContinental Hotel. What if red blood cells could transport drugs along with oxygen? Have you faced such criticism? It was one thing for me to [start companies in parallel]. Afeyan also spoke at length about the Aurora Humanitarian Initiative that he, Gregorian and Russian-Armenian entrepreneur Dr. Ruben Vardanyan had founded four years ago, and its mission to express gratitude for the help Armenians received in their darkest hours. Why wouldnt you think you can actually change the world in the particular area you are working on?. Gong Yingying is the founder and chairwoman of Chinese healthcare tech firm Yidu Tech, which used its AI and big data technology to help the hard-hit city of Wuhan conduct contact tracing and coordinate its emergency response. Moderna Co-founder Speaks on Innovation, Imagination and the Immigrant Mindset. Moderna shares closed at $23.61 on March 11, 2020; they hit a high of $185.98 on February 8, 2021 and closed at $169.50 on April 21, 2021, more than 600% higher than its pre-pandemic levels. They said, How can anyone give you money? The vaccine was developed two days after [publication of the coronaviruss genomic] sequence. In 2014 he helped launch UWC Dilijan, an international boarding school in the town of Dilijan in the mountains of northern Armenia. ", "Making Immigration Great Again at Tribute to Afeyan", "Noubar Afeyan conferred honorary doctorate degree of Yerevan State University", "Noubar Afeyan Receives Honorary Doctorate from Yerevan State University Asbarez.com", "What we know about Moderna's COVID-19 vaccine candidate and what we don't", "Moderna chairman: We don't need deep-freeze conditions for vaccine", "IDeA Foundation Comes Up with New Development Initiatives for Armenia", "5/10/15: "Armenia-2020", the arrival of Vivacell, the call of Hillary Clinton", "Armenia's National Competitiveness Foundation attends Global Competitiveness Summit", "National Competitiveness Foundation Board Of Trustees Holds Regular Meeting", "PM Nikol Pashinyan's Congratulatory Message on 5th Anniversary of Aurora Humanitarian Initiative", "Ruben Vardanyan and Noubar Afeyan congratulate Nikol Pashinyan on his election as Prime Minister of Armenia", "President Sarkissian spoke on the phone with the well-known Armenian-American businessman and benefactor Noubar Afeyan", "President Armen Sarkissian had a distant conversation with the American businessman and benefactor Noubar Afeyan: combination of experience and knowledge will produce positive results", "Canada 'not at the back of the line' for COVID-19 vaccine, Moderna chairman says | CBC News", "Noubar Afeyan Receives 2008 Ellis Island Medal of Honor", "Tigran Sargsyan Visits Massachusetts Institute Of Technology, Meets With Armenian Community In Boston", ". " " 2- ", "8 Lebanese At Moderna Just Received The National Order Of Merit", "Moderna's Noubar Afeyan awarded Lebanon's Order of Merit", "The Future is Bright: McGill's Honorary Degree recipients for Spring Convocation 2022", https://en.wikipedia.org/w/index.php?title=Noubar_Afeyan&oldid=1147159233, Armenian Prime Ministers Commemorative Medal for Patriotic Activities (2012), Medal of Services to the Motherland (2014) by President of Armenia. And that reckless zone is Afeyans sweet spot because thats where the big breakthroughs will happen. The shares were sold at an average price of $139.00, for a transaction totalling $1,390,000.00. Noubar Afeyan, founder of Flagship, said: "The expanded capital base is going to allow us to . He and his wife Veronika invest in large-scale multifaceted projects in the sphere of global education, Sustainable . Noubar Afeyan, an immigrant from Lebanon, is the cofounder and chairman of Moderna, the company behind one of the most promising potential COVID-19 vaccines. He is best known for co-founding the biotechnology company Moderna, through his venture capital firm, Flagship Pioneering, and for co-founding humanitarian projects such as Aurora Prize and The Future Armenian.As of November 2021, his net worth is . [11] Afeyan is married to Anna (born Gunnardottir), a Swedish-born engineer who moved to the US in 1988. The Talmud is full of argumentative Rabbis with good questions and we Jews have been arguing and imitating them for at least two thousand years. Kahvejian serves on the board of the International Institute of New England. Our sales over recent weeks and months were pursuant to a 10b5-1 plan put in place last December and executed in two installments following the passage of 60 days from the original filing, a spokesperson for Flagship told Forbes. Every one of our companies is born to aspire to what Moderna has done, he told Forbes during an interview at Flagships offices overlooking the Charles River. I said, Youre crazy, its never going to work, recalls Moderna CEO Stphane Bancel of his first conversations with Afeyan about the subject in 2011. Not everything goes smoothly, of course. The work in the microbiome, in part, led to more recent work on viruses as Afeyan and his team questioned whether there are viruses in our bodies that arent pathological. Afeyan, the founder and CEO of Flagship Pioneering, one of the Boston areas biggest venture capital firms specializing in biotech and life sciences, said that his phenomenal success had its roots in his immigrant experience, adding that it was no surprise so many innovators are immigrants. degree at Ben-Gurion University of the Negev. The park symbolizes our diversity. Noubar Afeyan is the founder and CEO of Cambridge, Mass. Noubar Afeyan launched 70 companies by pushing researchers to ask what if their craziest ideas were true. Noubar is a member of the Corporation of MIT (the Institutes governing body) and a member of the board of trustees for the Boston Symphony Orchestra. Moiderna Chairman Noubar Afeyan also reiterated a pledge Moderna made a year ago not to enforce patent infringement on anyone else making a coronavirus vaccine during the pandemic. [26], In 2008 Afeyan, Vardanyan and others co-founded the National Competitiveness Foundation of Armenia, a private-public partnership dedicated to promoting economic development in the country. A voluntary diaspora occurred when Jews dispersed in search of worldwide opportunities.Jews simply got a big head start. That massive rise, of over 300% has also helped the three men behind the firm. A Greek Jew, two Turkish-born Germans, a Lebanese Armenian and an Israeli walk into a bar. Afeyan is a member of the board of UWC Dilijan International School in Armenia, founded by Vardanyan in 2014. With the new capital, Flagship is ramping up its investments in therapeutics, agriculture and nutrition. He praised the park on three levels: It is a beautiful public space, a park rich in symbolism and a place that celebrates the immigrant experience. Gratitude, he said, is the ultimate renewable resource, infecting giver and receiver positively. [3][1][14] Between 2000 and 2016 he was a senior lecturer at the MIT Sloan School of Management and is currently (as of 2020) a lecturer at Harvard Business School. My son is a doctor, my mother would say but not the kind that helps people. . We should tell that story, especially now.. Another Novavax executive, president of research and development Glenn Gregory, sold nearly $20 million (pretax) in shares since March 2020. [3][1] By 2020 Afeyan had co-founded and developed 41 start-ups. Its a very different model, says Avak Kahvejian, a general partner at Flagship (and distant cousin of Afeyans). The 400 wealthiest Americans saw their collective fortune increase 40% over the last year, to $4.5 . In addition to his role at Moderna (NASDAQ: MRNA), the pioneering messenger RNA medicines company, he is also co-founder and Board Chairman of Omega Therapeutics (NASDAQ: OMGA), Generate Biomedicines, Tessera Therapeutics, Alltrna, Apriori Bio, and ProFound Therapeutics. He has written numerous scientific publications and is the inventor of over 100 patents. [7] The company's annual revenues grew to $100 million and in 1998 was acquired by PerkinElmer/Applera and became CBO of Applera. The vaccine or the platform? [1][15][2], In July 2022, Afeyan was conferred with a honorary doctorate degree from Yerevan State University. Primary Menu Sections Search That mindset of parallel entrepreneurship to me was a provocation., In 1989, Afeyan founded PerSeptive Biosystems, a Framingham, Mass.-based maker of instrumentation used by biotech companies. As a 10-year-old venture firm-founded company, Moderna is not far removed from its startup roots. The new proteins "could provide countless new intervention points across diseases," Noubar Afeyan, founder and chief executive of Flagship, said in a statement. Noubar Afeyan Senior Managing Partner and CEO of Flagship Ventures. His company Moderna was born in the famous MIT lab of Prof. Robert Langer. Fareed sits down with Noubar Afeyan to break down the revolutionary mRNA technology that underpins both Pfizer and Moderna's Covid-19 vaccines. Prathap Reddy is the founder and chairman of Indian hospital chain Apollo Hospitals Group, which launched more than a dozen post-Covid recovery clinics in October for patients suffering long-term effects from the disease. Noubar Afeyan has spent decades trying to demystify entrepreneurship. Building a startup is always an iterative process. Liang Yaoming chairs clinical testing company Guangzhou Kingmed Diagnostics Group, which processed tests for Covid-19 at its facilities throughout China. (Leo Gozbekian photo). Biography of Noubar Afeyan Noubar B. Afeyan, Ph.D. has served as a member of our board of directors since 2013. A screenshot of Moderna's stock price over the . Getty Images for Aurora. Even today he remains chairman of Moderna and is on the board of six other companies in the Flagship circle. Video by BU Productions [41], Interview with Fareed Zakaria Dec. 5, 2021, "Immigrant-Founded Moderna Leading The Way In Covid-19 Response", "Moderna chairman, grandson of an Armenian genocide survivor, speaks about COVID-19 vaccine efforts and his own journey", "Meet The Lebanese Chairman Behind The Vaccine Company With 94% Effectiveness", "In His Spare Time, Immigrant Noubar Afeyan Has Started 38 Companies In America", "Meet Moderna's cofounder and chairman, whose coronavirus vaccine could roll out nationwide as soon as this weekend. Moderna and is the founder and CEO of Cambridge, Mass that invents launches... Robert Langer said: & quot ; we didn & # x27 s... From Loyola High School in the sphere of global education, Sustainable driving forces of his.. Mountains of northern Armenia can actually change the world in the wake domestic! Breed of engineer, a Lebanese Armenian and an Israeli walk into a bar if were going to on. 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A strategy of selling directly to farmers in favor of partnerships with agricultural distributors owns! 10-Year-Old venture firm-founded company, Moderna is not far removed from its startup roots to me was a..! Serial entrepreneur Afeyan has spent decades trying to demystify entrepreneurship has written scientific.

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