2022 Annual Letter. Afeyan, who Forbes estimates has a net worth of $2.3 billion, owns a large stake in Moderna largely through his majority ownership of Flagship, which he established in 2000 as a firm to build and fund promising startups in life sciences and technology. Afeyan, of Lexington, checked in tied for 1,804th. As the companies grow, Flagship brings in outside investors, typically raising $100 million or more, with a view toward ultimately going public. 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 spent his childhood in Beirut until August 1975, when he fled the civil war with his parents and two older brothers at age 13, this time arriving in Canada. He also said that according the most recent statistics, 29 percent of the population of the city is foreign born. March 5th, 2021, 1:03 PM PST. It raised $1.1 billion, a huge sum for an agricultural startup, but has struggled to get its operations on track. He thanked the organizers on behalf of Mayor Martin J. Walsh, adding, We thank you for bringing the park to us and keeping it. Noubar Afeyan at Flagship Pioneering in Cambridge, Mass. The answer matters because in gene therapy, treatments are delivered by viruses and those viruses have downsides. Afeyan wondered if a safe virus could replace the existing viruses in that role. Gregorian is the former president of Brown University as well as the NewYork Public Library. As per our form 4 filing, this program covered 10 million shares, and is now concluded. I think of it as chess. Like other Flagship companies, its also a so-called platform company, something that Afeyan argues reduces the risk of the startups in its portfolio and allows any of them to shift from one area to another as the need arises, as Moderna did with Covid-19 vaccines. Part of it is an innate comfort with discomfort and with not thinking that everything has to be just so.. Like the Pfizer-BioNTech version, Modernas COVID-19 vaccine, too, has proven highly effective in clinical trials. At the time of Flagships founding two decades ago, biotech was out of favor and so-called platform companiesthat worked on a concept like mRNA rather than a specific drugwere the most unpopular. The richest of these new billionaires is Li Jianquan, the president of Chinese medical products manufacturer Winner Medical, which ramped up production of masks and medical overalls to supply frontline workers across the globe. He was born, raised and educated in Thessaloniki, in northern Greece. He also noted the organizations #AraratChallenge, a global crowdfunding campaign aimed at supporting those in urgent need of basic humanitarian aid around the world. A man of many faces. What if, he asked his researchers, microorganisms living in our gutsthe microbiomecould help cure cancer? Together with his partners, he has launched philanthropic projects including the Aurora Humanitarian Initiative, FAST Foundation, and the UWC Dilijan School. SheKnows. 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. Consider Flagships work in the microbiome, the flourishing microorganisms that live within us, especially in our guts. in chemical engineering from McGill University in 1983 and then moved to the US and earned a Ph.D. in biochemical engineering from the Massachusetts Institute of Technology (MIT) in 1987. 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. The research became idea number FL46 within the firms labs, and launched as Ring Therapeutics in 2017. [37] In March and May 2020, Afeyan and Armenian president Armen Sarkissian discussed the COVID-19 pandemic. Pfizers CEO is Albert Bourla. And its not just the vaccine discoverers: companies that mass produce the vaccines and contract research firms that help firms run clinical trials have both reaped the rewards, creating new fortunes for people like Juan Lpez-Belmonte Lpez of Spanish pharma outfit Rovi and Karin Sartorius-Herbst and Ulrike Baro of German biopharma firm Sartorius AG. 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. 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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. His wife, Brenda, who studied at Harvard's Divinity School, recently launched a second foundation called Champions of Love. The representatives, when singled out, received thunderous applause. Why wouldnt you think you can actually change the world?, The influx of cash will also test the ability of his model for parallel entrepreneurship to scale up even bigger and faster than it has to date. Today, Flagship has created a half-dozen microbiome companies, including Evelo (founded 2014), Kaleido Biosciences (2015) and Senda Biosciences (2016). 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. 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In 2000, Afeyan founded Flagship Pioneering to create and fund early-stage start-ups addressing unmet needs in healthcare and sustainability. on track to return investors money 15-fold. Noubar Afeyan (Photo by Neilson Barnard/Getty Images for 100 LIVES) Noubar Afeyan was born to Armenian parents in Lebanon. [30] It includes The 100 Lives initiative, which celebrates survivors and rescuers of the Armenian genocide,[15][2] and the Aurora Prize for Awakening Humanity, an annual award given to an individual (and an affiliated organization) who has faced personal risk to enable others to survive since 2016. [5][6] Talking about his background, Afeyan said: "One of the only unfortunate advantages Armenians have had by having gone through a genocide and having spread around the world is that we do have an experience of escaping and of immigrating and of constantly restarting. [29], With Vardanyan and Vartan Gregorian, Afeyan co-founded the Aurora Humanitarian Initiative in 2015. Through it Afeyan is churning out scientific ideas in biotech, the life sciences and agriculture with the goal of creating and nurturing a half dozen or more companies each year. It is the notion of gratitude in action.. Noubar Afeyan, an Armenian immigrant from Lebanon and grandson of a genocide survivor, is leading some of the breakthrough U.S. vaccine efforts as co-founder. Video by BU Productions Noubar entered biotechnology during its emergence as an academic field and industry, completing his doctoral work in biochemical engineering at MIT in 1987. British author Norman Lebrecht faces the media holding his Whitbread Book of the Year Award entry, The Song of Names, in London in 2003. [8][9] He became a U.S. citizen in 2008. Noubar Afeyan, an Armenian immigrant born in Lebanon, is one of the most successful biotech entrepreneurs at work. But this meant every Jew had to be literate, to know the Torah. [33] and Future Armenian public initiative. Flagship is a venture capital firm with a total of $17 billion in assets that operates more like an incubator. 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. He has been a Senior Lecturer at MIT's Sloan School of Management where he has taught courses on technology . "It has been a terrible year for many, but the good times keep on rolling for the nation's richest. Here's How His Formula Challenges Silicon Valley Dogma, In His Spare Time, Immigrant Noubar Afeyan Has Started 38 Companies In America, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. Noubar Afeyan. A Greek Jew, two Turkish-born Germans, a Lebanese Armenian and an Israeli walk into a bar. He has been working on revamping the business and scrapped a strategy of selling directly to farmers in favor of partnerships with agricultural distributors. 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. He has served as Chairman of the Global Agenda Council on Chemicals, Advanced Materials and Biotechnology of the . [4], Afeyan was born to Armenian parents in Beirut, Lebanon in 1962. 1d ago. Nearly a decade after its founding, Seres has only one drug in phase 3 clinical trials and some other treatments in earlier stage trials. Lebrecht explains in his book that if Jews excel in various professions, their excellence is in general a result of culture, not DNA. 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. The second time, the German officers who were carrying out the deportations realized his grandfather had blue eyes and spoke Germanand helped them to survive. As Covid-19 started to spread across China in early 2020, Noubar Afeyan, chair of Moderna, received a telephone call.It was his chief executive telling him that senior public health officials had . I constantly say things that are unreasonable and seemingly crazy, says Noubar Afeyan, founder of venture firm Flagship Pioneering and chairman of Moderna. Even today he remains chairman of Moderna and is on the board of six other companies in the Flagship circle. He serves as a role model and mentor to me. Noubars commitment to improving the human condition through science and business goes hand in hand with social investments and a global humanitarian initiative. Judaism was integral to Mahler. He was an outlier then, he says, as both a young founder and an immigrant, at a time when neither was an advantage. 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. Anna and Noubar are Founding Patrons of UWC Dilijan. The immigrant theme goes to the heart of the park, which has become a gathering place not only for Armenian commemorations, but also the site of the annual welcome reception for new US citizens who are sworn in at nearby Faneuil Hall, as well as other creative programs. ahin is the CEO and cofounder of BioNTech, which he started alongside his wife and chief medical officer zlem Treci. In both, I dealt with specifically Jewish aspects of his life and work that had not been treated before. They set us up on the path to success. Bitter experience has taught Jews to think differently from others and maybe to think more deeply than others. In July, Ring raised $117 million, bringing in T. Rowe Price among other investors. ahin is the CEO and cofounder of BioNTech, which he started alongside his wife and chief medical officer zlem Treci. Langer is a chemical engineer and professor at the Massachusetts Institute of Technology, where he leads the eponymous Langer Lab; he owns a 3% stake in Moderna, which he helped start in 2010. 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.. Biography of Noubar Afeyan Noubar B. Afeyan, Ph.D. has served as a member of our board of directors since 2013. Buoyed by Moderna, Flagships fourth fund, launched in 2012, topped a list of 17 high-performing biotech firms and was on track to return investors money 15-fold, according to research published by Stat in August. Among those newcomers are at least 40 new entrants who draw their fortunes from companies involved in fighting Covid-19. Text Years ago Noubar Afeyan, the founder of Flagship Pioneering, which backs life sciences companies such as Covid-19 vaccine maker Moderna Inc., walked into Managing Partner Doug Cole's. Flagship Pioneering, a VC fund run and majority owned by Moderna chairman and cofounder Noubar Afeyan, sold the shares in late February and late March. ISAACSON: You have this big report that's just come out with the Eurasian group and you and others and it talked about . In 2000, Afeyan founded Flagship Pioneering to create and fund early-stage start-ups addressing unmet needs in healthcare and sustainability. I will go to my grave believing it is the platform., 15 Under 40: The Youngest Billionaires On The 2021 Forbes 400, Meet The 44 Newcomers Joining The Forbes 400 List Of America's Richest People. 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 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. THERE IS an interesting theory about the origins of extraordinary Jewish achievement, by Maristella Botticini and Zvi Eckstein, The Chosen Few: How Education Shaped Jewish History, 70-1492. Not everything goes smoothly, of course. [24] Earlier, in 2001 Afeyan, Vardanyan and others launched the "Armenia 2020" initiative, which aimed to identify development prospects for Armenia until 2020. Moderna Therapeutics, Inc., cofounder Noubar Afeyan (Hon.'21) told graduates at BU's advanced degree ceremony on Sunday morning that he hopes their experience with COVID-19 will drive them to find innovative answers to future pandemics and other world problems. 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. "This discovery redefines . ), The park was opened on May 22, 2012 with a celebration that included then Gov. Armenian American entrepreneur, inventor and philanthropist Noubar Afeyan has been listed 212th on the Forbes list of 400 richest Americans. Reflects change since 5 pm ET of prior trading day. Bancel knew he needed to reach out to Moderna cofounder Noubar Afeyan, the serial biotech entrepreneur who runs Flagship Pioneering in Cambridge and chairs Moderna's board of directors. 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. In 1999, Afeyan founded the predecessor company to Flagship Pioneering and set up shop in an office park in suburban Cambridge. In honor of their donations to the park, he presented Afeyan with a miniature version of the split rhomboid dodecahedron abstract sculpture that is the centerpiece of the park. Noubar Afeyan. King Charles' youngest son Prince Harry and his wife Meghan Markle's rep gave the BBC a rare update on whether they will attend his coronation next month. 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. The firm files intellectual property claims (most ideas generate multiple patent applications) to stake out its turf and invests $1 million or $2 million max. 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. And there is a back story about a century of Jewish genius that changed the world. Karin Sartorius-Herbst and her sister Ulrike Baro own stakes in German biopharma outfit Sartorius AG, founded by their great-grandfather Florenz Sartorius in 1870. 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