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 was born to Armenian parents in Lebanon and immigrated with his family in his early teens to Canada. It is fascinating that a similar massive wave of emigration a million Russian Jews who emigrated to Israel fueled the growth of Israels hi-tech industry, from 1990 to 2000. Short films were shown about the park and the evenings honoree. Some bigger bets have gone sideways too. Armenian American entrepreneur, inventor and philanthropist Noubar Afeyan has been listed 212th on the Forbes list of 400 richest Americans. That is 99 percent of the room standing, he said. Rounding out the group of Moderna sellers is Juan Andres, the firms chief technical operations and quality officer, who sold shares worth $27.2 million. He was a senior lecturer at MITs Sloan School of Management from 2000 to 2016, and a lecturer at Harvard Business School until 2020. Hes also an investor in privately owned Inspirotec, which is developing technology to identify the presence of Covid-19 in the air. March 5th, 2021, 1:03 PM PST. PerSeptive developed leading-edge technology in protein analysis, and grew to $100 million in revenue before Afeyan, sold it to scientific instruments conglomerate Perkin-Elmer for $360 million in 1998. [40], In November 2020, Afeyan confirmed that the Canadian government had been among the first countries to pre-order the Moderna vaccine; the country is guaranteed to get some portion of the first batch dispensed to the public. life sciences innovation firm Flagship Pioneering. 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. 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. "This discovery redefines . 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 Senior Managing Partner and CEO of Flagship Ventures. A voluntary diaspora occurred when Jews dispersed in search of worldwide opportunities.Jews simply got a big head start. How MIT Solve is addressing the global demand for social impact initiatives. Some, such as Moderna CEO Stphane Bancel and BioNTech cofounder Uur ahin, have become household names thanks to the vaccines they helped develop. from his Alma Mater, This page was last edited on 29 March 2023, at 06:05. A man of many faces. life sciences innovation firm Flagship Pioneering. Founder and CEO, Flagship Pioneering. He points to his immigrant background and mentality as the driving forces of his philanthropic, scientific, and business work. The underlying cause of most autoimmune diseases is related to T-cell misbehavior, Cox explains. Another pandemic-era billionaire, Uur ahin of German biotech outfit BioNTech, has also never sold a share in the company he cofounded in 2008 with his wife (and the firms chief medical officer) zlem Treci. A screenshot of Moderna's stock price over the . Noubar Afeyan, co-founder of Moderna Inc. and CEO of Flagship Pioneering Inc., discusses the remaining challenges in the Covid-19 vaccination efforts and the progress in creating shots for children. He teaches and speaks around the world on topics ranging from entrepreneurship, innovation, and economic development to biological engineering, new medicines, and renewable energy. I look up to him even though he is half my size, he said, eliciting chuckles. With the new capital, Flagship is ramping up its investments in therapeutics, agriculture and nutrition. Noubar was born in Beirut to Armenian parents in 1962, did his undergraduate work at McGill University in Montreal, and completed his Ph.D. in biochemical engineering at MIT in 1987. The research became idea number FL46 within the firms labs, and launched as Ring Therapeutics in 2017. 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. Jianquans Winner Medical made billions of masks and millions of protective overalls and gowns for healthcare workers fighting the virus. It was a message reiterated by Dr. Avak Kahvejian of Flagship Pioneering, who was chair of the benefit. Noubar Afeyan is a serial entrepreneur Afeyan has made a career out of being a co-founder. ( 25, 1962 [1], , ), , Flagship Ventures [2] . 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. If the idea proves out in the lab, Flagship gives the new company a name and commits $20 million or more to it as a wholly owned subsidiary. Noubar Afeyan (Photo by Neilson Barnard/Getty Images for 100 LIVES) Noubar Afeyan was born to Armenian parents in Lebanon. Many founders become serial entrepreneurs, starting companies and moving on, sometimes in rapid succession. Noubar Afeyan. transformed Judaism from a cult based on ritual sacrifices to a religion whose main norm required every Jewish man to read and study the Torah in Hebrew and to send his sons to school or synagogue to learn to do so. He and his wife Veronika invest in large-scale multifaceted projects in the sphere of global education, Sustainable . Moderna - founders Noubar Afeyan and Robert Langer and investor Timothy Springer - made it on Forbes' list of the 400 richest Americans after the company saw a COVID-fueled windfall. Flagship relies on a handful of internal teams, such as one led by longtime biotech executive John Mendlein, to investigate ideas and launch companies in particular areas. The park symbolizes our diversity. Innovation, Report Shows, Entrepreneurship: Kill The Myth, Follow The Science, The Billionaire Chairman Of Vaccine Maker Moderna Wants To Reinvent Scientific Entrepreneurship, Forbes Releases 40th Annual Forbes 400 Ranking Of The Richest Americans, Surging Moderna Stock Mints The Vaccine Makers Fifth Billionaire, Flagship Pioneering, The Investor Behind Moderna, Raises $3.4 Billion For New Fund, VC Firm Of Moderna Chairman Sold $1.4 Billion Of Stock In Two Months, Moderna Cofounder Noubar Afeyan On Innovating To Drive Real Change, Trump Takes Credit For Vaccine Created By Others, Including Immigrants. Actually not a bar, but a research lab. 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. Afeyan noted that he was especially delighted to have Gregorian there. conduct pioneering science, company creation and growth all under one roof." And there is a back story about a century of Jewish genius that changed the world. The representatives, when singled out, received thunderous applause. Sartorius provides lab supplies for Covid-19 testing and assists vaccine manufacturers in the development process. Afeyan added his praise to the organizations that were recognized for their work and especially the timing of the recognition at a time they are very much needed., I congratulate them and thank them for being here, he said. Springer is an immunologist and professor of biological chemistry and molecular pharmacology at Harvard Medical School; he was a founding investor in Moderna in 2010 and owns a 3.5% stake. LEBRECH RECOUNDS the genius of such well-known figures as Marx, Freud, Einstein and Kafka. 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. As per our form 4 filing, this program covered 10 million shares, and is now concluded. In 2022, Noubar was elected to the National Academy of Engineering. When world powers step in to stop unfolding atrocities, it sends a signal to aggressors that annexing land or destroying a people and culture will not be tolerated," he wrote. One year later, things couldnt be more different: a record 493 new billionaires joined the list this year, propelled by a red-hot stock market and unprecedented economic stimulus. He left Greece with his wife when he was 34. As Moderna shares plunge below $50 in Wednesday morning trading, I called back to my Forbes article of last week. Tanimura is the founder of Tokyo-based online medical services provider M3, which offers its AI-powered image analysis technology to remotely diagnose Covid-19 by looking at medical images; the firm also ran clinical studies for Modernas vaccine at its facility in Raleigh, North Carolina. His company, Flagship Pioneering, is in the business of starting other companies using a methodological set of steps. This is a BETA experience. Yuan Liping received a 24% stake in vaccine maker Shenzhen Kangtai Biological Products after divorcing the firm's chairman Du Weimin in 2020. Primary Menu Sections Search "We didn't have . They do, indeed; I had one. (Baker and Walsh, as well as Middlesex County Sheriff Peter Koutoujian were honorary chairs of the banquet.). If so, how do you respond? Yu De-Chao is the founder and chairman of Chinese biopharma outfit Innovent Biologics, which is developing a potential antibody treatment for Covid-19. Mahler was Jewish, but very remote from Judaism. Editors note, April 22, 2021: This story was updated with comment from Flagship Pioneering. Moderna Co-founder Speaks on Innovation, Imagination and the Immigrant Mindset. My kids are descendants of an Armenian father and a Swedish mother. Biography of Noubar Afeyan Noubar B. Afeyan, Ph.D. has served as a member of our board of directors since 2013. [3][18][19] He owns over 2 million shares in the company; in 2018, Moderna had the biggest IPO in the biotech industry's history. Hernandez added: I am proud of what this country has become. Everybody loves Moderna, but [platforms] tend to be something that is in fashion or out of fashion. Have you faced such criticism? And anxiety, Lebrecht writes, impacts Jews just as the tax collectors did in Egypt it spurs them to acts of genius. He was an outlier then, he says, as both a young founder and an immigrant, at a time when neither was an advantage. 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. In 1999, Afeyan founded the predecessor company to Flagship Pioneering and set up shop in an office park in suburban Cambridge. 01.13.2022 Essay. ahin is the CEO and cofounder of BioNTech, which he started alongside his wife and chief medical officer zlem Treci. Previously, he was a member of the founding team, director, and investor in highly successful ventures including Chemgenics Pharmaceuticals (acquired by Millenium Pharmaceuticals), Color Kinetics (acquired by Philips), Adnexus Therapeutics (acquired by Bristol-Myers Squibb), and Affinnova (acquired by AC Nielsen). After an early exploration went nowhere, Flagship launched its first microbiome startup with Seres Therapeutics, which is creating therapeutics to restore health by repairing the function of an imbalance of microflora, in 2012. Bourla is Jewish. Afeyan spoke about how most of his work is rooted in his experience as an immigrant and how he didn't have the comfort of feeling native or settled. Flagship has developed more than 100 scientific ventures resulting in over $100 billion in aggregate value, thousands of patents and patent applications, and more than 50 drugs in clinical development. Isadore Rabi, son of Russian migrs, credited his mom with his Nobel Prize in physics. Noubars commitment to improving the human condition through science and business goes hand in hand with social investments and a global humanitarian initiative. Stephane Bancel, Liu Fangyi and Ugur Sachin, Adam Glanzman/Bloomberg, Abdulhamid Hosbas/Anadolu Agency/Getty Images, Courtesy of Liu Fangyi. . Gratitude, he said, is the ultimate renewable resource, infecting giver and receiver positively. What keeps you from innovating is being comfortable. Deval Patrick and an official delegation from Armenia. 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. [15][27] As a member of its board, he met with Armenian Prime Minister Tigran Sargsyan in 2009[28] and 2012. Li Wenmei is the cofounder and general manager of diagnostic test supplier Guangzhou Wondfo Biotech, which makes a range of Covid-19 tests. ISAACSON: You have this big report that's just come out with the Eurasian group and you and others and it talked about . 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Why the Jews played such a large role is rooted in a collective cultural unconscious - a common way of thinking - allied to a constant fear of disruption, as I explain in the book. 2023 Forbes Media LLC. Highly Skilled Immigrants Drive U.S. [4], Afeyan was born to Armenian parents in Beirut, Lebanon in 1962. I cant resist giving a plug to the Jewish mother theory of genius, by the legendary Israeli entrepreneur and angel investor Yossi Vardi. Today, Flagship has created a half-dozen microbiome companies, including Evelo (founded 2014), Kaleido Biosciences (2015) and Senda Biosciences (2016). And what if, he asked a decade ago, messenger RNA (mRNA) could be the basis of therapeutics? Victor BoykoGetty Images. Francine Lacqua speaks with Moderna co-founder Noubar Afeyan about his path to success, the promise of mRNA technology and the coronavirus vaccine. 2022 Annual Letter. As of November 2021, his net worth is . . We find heroes that are helping people. In this talk, we are honored to be speaking with Noubar Afeyan, CEO and founder of Flagship Pioneering, a life science bioplatforms firm focused improving the human condition by . They said, How can anyone give you money? The vaccine was developed two days after [publication of the coronaviruss genomic] sequence. 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. 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. I cover the world's richest people and how they made their billions. Here, he outlines his startup process. [32][15][2], a founding angel of Foundation for Armenian Science and Technology (FAST). "[35], After the Velvet Revolution of 2018, Afeyan congratulated Nikol Pashinyan on being elected Armenia's prime minister and wrote that "With this turning point, we have an opportunity to bring together the skills and enthusiasm of Armenians across the globe who are able to contribute to accelerating Armenias and Artsakhs growth and prosperity. Fireside chat: Emergent innovation. If you play parallel chess, you have got to get to the essence. When anyone writes about how a specific religious and cultural tribe excels, there are cries of racism. Before that, the funds also sold 1 million shares for $68.2 million (pretax) in May 2020. Draw a circle around what currently exists, then a bigger circle around whats adjacent to it. From 1820 through 1924, an unending flow of Jews made their way to America from Europe, ending in a massive surge of immigrants in the early 1900s. Genius and Anxiety: How Jews Changed the World, 1847-1947. During his talk he asked the first-, second- or third-generation immigrants in the audience to rise. Lpez-Belmonte Lpez chairs Spanish pharma company Rovi, which inked a contract with Moderna in July to fill and package hundreds of millions of doses of its Covid-19 vaccine at Rovi's factory in Madrid, Spain. There is really no word to describe what he is. What is good about immigrants is that they are the ultimate founders; they are the founders of a new life. He is also the founder of a company called PerSeptive Biosystems. [20], In 1988, he founded PerSeptive Biosystems and served as its CEO. At the same time, hundreds of billionaires fell from the ranks of Forbes Worlds Billionaires list, capturing a snapshot of the pandemics impact on the fortunes of the worlds wealthiest people. He is also co-founder and Board Chairman of Moderna. Not everything goes smoothly, of course. Thanks to its mRNA Covid vaccine, Moderna now is a household name, with 12-month revenues north of $11 billion and a market cap approaching $100 billion. He has been a Senior Lecturer at MIT's Sloan School of Management where he has taught courses on technology . Noubar Afeyan, co-founder and chairman of Moderna, discussed a new COVID-19 therapeutic and booster shots during an exclusive interview on Tuesday, noting that there could be a "continuous need . The writer heads the Zvi Griliches Research Data Center at S. Neaman Institute, Technion and blogs at www.timnovate.wordpress.com, Hebrew edition: Kinneret, Zmora, Dvir: Modi-in, 2020, 511 pages, Sign up for The Jerusalem Post Premium Plus for just $5, Upgrade your reading experience with an ad-free environment and exclusive content. Noubar Afeyan (born July 25, 1962), is an American entrepreneur, venture capitalist, inventor, technologist, and CEO. 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. As I write this, the world has just entered its third . In September 2020, Ron Hovsepian, the former CEO of software firm Novell who joined Flagship as an executive partner two years earlier, took over as CEO. I constantly say things that are unreasonable and seemingly crazy, says Noubar Afeyan, founder of venture firm Flagship Pioneering and chairman of Moderna. Dr. Ashish K. Jha, dean of the Brown University School of Public Health, in conversation with Dr. Noubar Afeyan, co-founder and chairman of the board of Mode. [1][3][2] His grandfather survived the Armenian genocide. And its not a joke. Even though it was the governments policy of carrying this out, the actual officers were revolted by seeing train loads of people being taken to their deaths.. At the conclusion of the event, Afeyan said, I am happy that the occasion brought this many people out to support the Armenian Heritage Park.. 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. The new proteins "could provide countless new intervention points across diseases," Noubar Afeyan, founder and chief executive of Flagship, said in a statement. Starting one successful company is a fine achievement. And that reckless zone is Afeyans sweet spot because thats where the big breakthroughs will happen. Flagship Pioneering conceives, creates, resources, and develops first-in-category life sciences companies to transform human health and . The answer matters because in gene therapy, treatments are delivered by viruses and those viruses have downsides. . Gregorian is the former president of Brown University as well as the NewYork Public Library. Not every Moderna billionaire has been reducing their position, though: Founding investor Timothy Springer and cofounder Robert Langer, both professors at Harvard and MIT, respectively, also became billionaires thanks to their Moderna holdings but neither has sold a share since the company was founded in 2010. I was literally mesmerized. Afeyan says, I started to learn everything I could about how to start companies., If you play parallel chess, you have got to get to the essence. Each began life as little more than an idea in a lab. The seeming courage it would take to do these things is rooted in being unrooted, he says. What lies behind that phenomenon is what prompted me to write the book. [11] Afeyan is married to Anna (born Gunnardottir), a Swedish-born engineer who moved to the US in 1988. It was one thing for me to [start companies in parallel]. [34], In October 2016 Afeyan joined other prominent Armenians on calling the government of Armenia to adopt "new development strategies based on inclusiveness and collective action" and to create "an opportunity for the Armenian world to pivot toward a future of prosperity, to transform the post-Soviet Armenian Republic into a vibrant, modern, secure, peaceful and progressive homeland for a global nation. BioNTech stock is up more than 400% since March 11, 2020 and Forbes estimates ahins net worth to be $6.4 billion. Consider Flagships work in the microbiome, the flourishing microorganisms that live within us, especially in our guts. Noubar Afeyan (Western Armenian: ; born in 1962) is an American-Canadian entrepreneur, inventor, and philanthropist. He is also co-founder and Board Chairman of Moderna. 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. Noubar has always fundamentally believed that you can change the world with platform science, says Evelos Gill. The CEO of Flagship is the CEO and Founder of Moderna, Noubar Afeyan. Noubar Afeyan, co-founder and chairman of Moderna, is a two-time immigrant. Repertoire is working to understand the inner workings of the immune system. The Maine-born and respected longtime meteorologist on Boston area television stations, praised the park as a really welcoming place for all people., Representing the city of Boston was Marty Hernandez, head of the Mayors Office of Health and Human Services. The company signed a deal with British pharma titan AstraZeneca in August to make at least 100 million doses of its Covid-19 vaccine. [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. And some things startups are known for is their . The Germans took pity on them, he says. Podcast, What Evolution Can Teach Us About Innovation, The Billionaire Chairman Of Vaccine Maker Moderna Wants To Reinvent Scientific Entrepreneurship. Dr. Noubar Afeyan is founder and CEO of Flagship Pioneering, a company that conceives, creates, resources, and develops first-in-category life science platform companies to transform human health and sustainability. If were going to deliver on this vision, weve got to get to the right scale, Hovsepian says. Some vaccine companies have been so successful that their rise over the last year has minted several new billionaires from the same company, including four apiece from Moderna and Tianjin-based CanSino Biologics, which saw its one-shot vaccine approved by Chinese regulators in February. [2] In total, he co-founded or helped build over 50 life science and technology startups. Rao Wei and Weng Xianding are the chairman and majority shareholder, respectively, of biomedical firm Shenzhen New Industries Biological Engineering, which makes a number of Covid-19 diagnostic tests. Moderna has clearly super-powered those returns. Since Flagships launch, Afeyan has helped start some 70 companies. Thats a fact. He called the park as a community partner for the city, one which gives an arena to immigrants to tell their stories.. I bow to his heart, his mind and to his legacy.. 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. Judaism was integral to Mahler. Lal is the executive chairman of Indian diagnostics chain Dr. Lal PathLabs, which offers Covid-19 tests at its clinics and collection points throughout India. Later reports raised its effectiveness to 95%. The timeline: A vaccine in under a year. In his remarks, honoree Afeyan singled out for praise his Swedish-born wife, Anna, his partner in his philanthropic endeavors, and expressed his hopes for his four children. Its focus: T cells, a type of white blood cells that helps protect the body from infection. Dr. Noubar Afeyan, 58, is co-founder and chairman of the biotech company Moderna. Noubar Afeyan launched 70 companies by pushing researchers to ask what if their craziest ideas were true. He praised Afeyan and his family for giving back to the community. And that's . 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. Oyler is the CEO and cofounder of Beijing-based drugmaker BeiGene, which signed an agreement with biotech outfit Singlomics Pharmaceuticals in August to develop, manufacture and sell Singlomics antibody treatment for Covid-19. It is also building out a new division focused on preemptive medicine, a more personalized, predictive type of preventive health care, as well as health security to better prepare for future threats from infectious diseases. Have you wondered how to push the limits of your imagination in your research to drive significant and impactful change? The prospect that I wouldve been throwing away a brand-new Ph.D. going into an area that wouldve failedthat thought never occurred to me.. I thought I didnt have much of a downside, he says. 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