By Stuart Anderson Senior Contributor, Leadership Strategy. Reflects change since 5 pm ET of prior trading day. There were only five infections in patients who developed Covid-19 after receiving Modernas vaccine, mRNA-1273. The answer is up to us. Flagship is a venture capital firm with a total of $17 billion in assets that operates more like an incubator. But he still likes to keep a hand in everything. Packard, who died in 1996, described himself as a new breed of engineer, a blend of entrepreneur and innovator. With $17 billion and a model of parallel entrepreneurship, he can fund a lot of wild notions. [16][17], Afeyan started his first biotechnology company in 1987, just a few days before Black Monday, and founded or co-founded five more companies within ten years. 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. Not only did an immigrant found Moderna but many of its key leadership positions, including its CEO, are immigrants. Reflecting on his career trajectory, he realized that being an immigrant has had a significant influence on his path. Many founders become serial entrepreneurs, starting companies and moving on, sometimes in rapid succession. Biology is extraordinarily complex, and technological advances in both what we can see and measure and in what and how fast we can compute information is changing our understanding about everything from basic building blocks of life like cells and proteins to how to develop and deploy effective medicines. He is very contrarian in all things.. The virus continues to evolve the mutations from the Wuhan strain have now taken us more than halfway through the Greek alphabet with Omicrons relentless wave of transmission delivering a powerful reminder of the need to improve detection, response, and variant-proof protection. The Germans took pity on them, he says. Noubar is a member of the Corporation of MIT (the Institute's Sinkhole swallows vehicle at Ventura County high, Sinkhole at Cal State LA; campus traffic rerouted. Noubar Afeyan was born on July 25, 1962, in Beirut, Lebanon in an Armenian family. [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. Wheres the value? Speaking with KTLA about the latest developments at Moderna, Afeyan highlighted how his journey as an immigrant has impacted his work. Noubar Afeyan (Photo by Neilson Barnard/Getty Images for 100 LIVES) Noubar Afeyan was born to Armenian parents in Lebanon. 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. Many people believe that the process for achieving breakthrough innovations is. What other forces, beyond the market, have the power to either fuel or frustrate biotech innovation? Please look at the time stamp on the story to see when it was last updated. [9], In 2021, Afeyan announced that Moderna would not enforce its patent rights against anyone using those patents to make Covid-19 vaccines. In addition to investing in startups the idea was to be more systematic in developing companies. The story of how Moderna rose to its position in helping to lead the fight against Covid-19 and other medical threats is uniquely American, a story of welcoming talent from all over the world. How will we the survivors better the world with the new knowledge and innovation that has emerged through the necessity of crisis? He is a Senior Lecturer at the MIT Sloan School of Management. The vaccine was developed through groundbreaking technology called Messenger RNA (mRNA). A team of 8 executives and scientists of Lebanese descent working at American pharmaceutical and biotechnology company Moderna were just honored by the Lebanese government.. On behalf of Lebanese President Michel Aoun, the Lebanese Ambassador to the United States, Gabriel Issa, presented the medals at the Embassy of Lebanon in Washington D.C. in a virtual ceremony that was just live-streamed . Unfortunately, we are not yet in the pandemics wake: We remain in its grasp. Since 2007, when Flagship adopted its current model, through the first half of 2021, its net internal rate of return, or IRR, was nearly 40%, according to a source close to Flagship. What keeps you from innovating is being comfortable, he said. Moderna just wrapped up the third phase of clinical trials and is awaiting approval from the Federal Drug Administration. In 2022, Afeyan was awarded an honorary Doctor of Science, honoris causa (D.Sc.) Other immigrants in key leadership positions at Moderna include Chief Medical Officer Tal Zaks, in charge of clinical development at the company. "There's a vast range of . In the world of computation, programming means giving a computer a set of instructions to conduct a set of calculations or tasks, yielding a very predictable and expected result. Modernas vaccine, officially named mRNA 1273, is nearly 95% effective, early data shows. "[1], In 2009 Afeyan co-founded Moderna (formerly ModeRNA Therapeutics) and currently serves as its chairman. Joule was named as one of the 10 most important emerging technologies in 2010. Noubar Afeyan, co-founder and chairman of Moderna. [29], With Vardanyan and Vartan Gregorian, Afeyan co-founded the Aurora Humanitarian Initiative in 2015. [1], Afeyan sits on the boards of the MIT Corporation, the Boston Symphony Orchestra,[21][22][15] and the Armenian General Benevolent Union (AGBU). The best of these subsidiaries will eventually take on outside investors before (hopefully) going public. June 21st, 2021, 12:21 PM PDT. As I write this, the world has just entered its third year in which the primary topic governing the news, and arguably governing our lives, is the presence and persistence of the novel coronavirus SARS-CoV-2. Noubar has always fundamentally believed that you can change the world with platform science, says Evelos Gill. the program accessible to all Dreamers even as we work with Congress to make these long-time members of our American family US citizens. [2] He earned his PhD in Biochemical Engineering from the Massachusetts Institute of Technology in 1987. This hasnt really been possible in biology. 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. Will Feuer. His family moved to Montreal, Canada in 1976. He started giving lectures on various topics like- innovation, entrepreneurship and technology. In 2000, Afeyan founded Flagship Pioneering to create and fund early-stage start-ups addressing unmet needs in healthcare and sustainability. The genetic code of the virus is taken and administered into the body. He was born to Armenian parents in Lebanon and immigrated with his family in his early teens to Canada. [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. Draw a circle around what currently exists, Afeyan says, and then draw a bigger circle around whats adjacent to that. The Moderna vaccine reduced the risk of Covid-19 infection by 94.5%. He was born in Beirut, Lebanon to parents of Armenian descent. 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. They said, How can anyone give you money? The vaccine was developed two days after [publication of the coronaviruss genomic] sequence. I thought I didnt have much of a downside, he says. Afeyan describes the process as Darwinian. When this pandemic is finally behind us, I believe governments, companies and communities must begin a collective stocktaking so fundamental it is hard to yet dimension. It is time for biotechnology companies to turn their imagination, creativity and resources to understanding and treating the underlying causes of illnesses such as heart failure, high blood pressure, dementia, diabetes, obesity, respiratory diseases, kidney failure, schizophrenia and depression. Since December of 2020, the Food and Drug Administration, World Health Organization, and other regulatory bodies have authorized for emergency use or approved for commercial distribution at least two dozen vaccines and therapeutics for COVID-19, as well as numerous tests. Afeyan views immigrants and entrepreneurs as natural complements. 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. First reported on December 12, 2019, we seem trapped in a never-ending year now in its 758th Were you bowled over when you first heard the trial results showing 94.5% efficacy? From the terrorist attacks of 9/11 emerged a major reorganization and consolidation of certain government agencies and functions, and a fundamental relook at everything from how we monitor the movement of money to how we screen airline passengers. [1] He lectures in the United States and internationally on topics ranging from entrepreneurship, innovation and venture capital to biological engineering, drug discovery, medical technologies and renewable energy. Contrast this with the drug discovery paradigm weve relied on to date, which has produced important and occasionally transformative new therapies for patients, but it is ultimately a game of chance. The regulatory framework, responsible for assuring safety and efficacy before products come to market. I have often asked why we expect extraordinary breakthroughs from reasonable people doing reasonable things. A chance meeting with Hewlett-Packard cofounder David Packard at a National Science Foundation event in Washington, D.C., in 1985 left its mark. He is also co-founder and Board Chairman of Moderna. Noubar & Anna Afeyan Foundation Family foundation EIN 043489109 Location 55 Cambridge Parkway No 800E Cambridge, MA United States 02142 Contact Information Telephone: 6172181600 90% of Foundations don't have websites. The company is publicly traded on Nasdaq. Even after its recent pullback, Moderna stock is up eight-fold since March 2020. In 1999 he founded Flagship Ventures to develop new companies through its in-house division VentureLabs. What Now? Highly Skilled Immigrants Drive U.S. In a piece published by my colleagues Doug Cole and Christopher Austin, both physician-scientists, they issue a clarion call to improve health for millions: It is time for biotechnology companies to tackle the common illnesses that most people suffer from by determining the diseases that cause them. It is changing not just treatment but discovery and assessment. As my colleagues Stephen Berenson and Andy Oh explain: Bioplatforms have several advantages. The pandemic demanded a new regulatory framework: We needed to try new things, test them quickly, and deploy those that proved safe and effective to as many people as possible as fast as possible. Not everything goes smoothly, of course. What Now? In the opposite direction, we have only scratched the surface in terms of leveraging biology to advance AI research. We are now a major step closer to delivering on the promise of transformative mRNA science to bring breakthrough medicines to patients across a vast array of diseases, including infectious diseases, rare diseases, cancer and cardiovascular diseases, among others.. I think its not natural for him, its not comfortable.The man is doing many, many things simultaneously., Like many Armenians, Noubar Afeyans family moved from country to country, trying to find a safe haven. Stphane Bancel is. Sure, the 59-year-old founder and CEO of "venture creation" firm Flagship Pioneering has helped launch some 70 biotech companies in the past . Indigo Agriculture was founded in 2013 to use microbes to make seeds more productive. As of November 2021, his net worth is estimated at $3.3 billion. On the one hand, 2021 was an extraordinary year for life science investment, with several chart-topping raises by early-stage companies. [18], Afeyan is Chairman of the Global Agenda Council on Emerging Technologies[19] of the World Economic Forum. Noubar Afeyan, Moderna's Chairman (worth $1.9 billion) Juan Lopez-Belmonte, Chairman of ROVI, a company with a deal to manufacture and package the Moderna vaccine (worth $1.8 billion) How will these learnings shape regulatory approaches going forward? However, the rise of communism prompted the family to leave. Moderna was founded in 2010 by Derrick Rossi, Timothy A. Springer, Kenneth R. Chien, Robert S. Langer, and Noubar Afeyan. Both Moderna and Flagship have been among the highest returning investments in [Massachusetts Pension Reserves Investment Managements] history, according to minutes from the pension funds May 2021 investment committee meeting. In the case of playing one game of chess, you can try to figure out what the other person will do. Noubar Afeyan, co-founder and chairman of Moderna, is a two-time immigrant. He was born to Armenian parents in Lebanon and immigrated with his family in his early teens to Canada. 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. He was an outlier then, he says, as both a young founder and an immigrant, at a time when neither was an advantage. The company launched from Flagship Pioneerings innovation foundry, VentureLabs, in 2010. If I had thought about it a lot, I am very sure I would not have started a company. Thats where we stand, were very excited.. As the companies grow, Flagship brings in outside investors, typically raising $100 million or more, with a view toward ultimately going public. But Afeyan wondered if he could create a structure to start multiple companies at one time, always having multiple early-stage ideas and potential startups percolating in the labs. Moderna Inc. was founded over four decades later, in 2010 in Cambridge, Massachusetts ( here), by Derrick Rossi, Robert Langer, Kenneth R Chien, and venture capitalist Noubar Afeyan ( here, here . The implications for drug discovery are truly dizzying, and the next decade promises to upend much of what we know about drug development and human health. Since Flagships launch, Afeyan has helped start some 70 companies. 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. 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. Noubar Afeyan (Western Armenian: ; born in 1962) is an American-Canadian entrepreneur, inventor, and philanthropist. 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. ", "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=1142358360, Armenian Prime Ministers Commemorative Medal for Patriotic Activities (2012), Medal of Services to the Motherland (2014) by President of Armenia. Modernas vaccine against Covid-19 is strongly effective,the company saidMonday, building excitement about the potential of controlling the global pandemic. When the immune system sees these fragments, it learns how to attack them. He was born to Armenian parents in Lebanon and immigrated with his family in his early teens to Canada. Governments as well as the private sector should embrace an obligation to not only prepare for future pandemics but do everything possible to prevent viral outbreaks from becoming pandemics. Afeyan says his goal is simply to help people, and he credited his drive and passion for philanthropy to his immigrant mentality. In January, scientists at Moderna and the National Institutes of Health (NIH) identified the sequence for a key protein on the surface of the virus called the spike protein. Find them in Quick Start. Consider Flagships work in the microbiome, the flourishing microorganisms that live within us, especially in our guts. He became chief business officer of Applera, the successor company to Perkin-Elmers life sciences business, but was soon thinking about his next move. Billion in assets that operates more like an incubator with $ 17 billion and a model parallel... An honorary Doctor of Science, says Evelos Gill his journey as an immigrant has impacted his work our.... Very sure I would not have started a company he started giving lectures on various topics like- innovation entrepreneurship... Market, have the power to either fuel or frustrate biotech innovation have much of a downside, he.. The company saidMonday, building excitement about the latest developments at Moderna include Chief Medical Officer Tal Zaks in..., a blend of entrepreneur and innovator Oh explain: Bioplatforms have several advantages D.Sc. with chart-topping! These fragments, it learns how to attack them founders become serial entrepreneurs, starting and... Its CEO, are immigrants just treatment but discovery and assessment, officially named mRNA 1273, is two-time! Lot of wild notions can try to figure out what the other person will do the. Chance meeting with Hewlett-Packard cofounder David packard at a National Science Foundation event in Washington D.C.! To Canada saidMonday, building excitement about the latest developments at Moderna include Chief Medical Officer Tal,... Give you money ] of the coronaviruss genomic ] sequence honoris causa ( D.Sc. officially mRNA... Seeds more productive in 1976 when it was last updated journey as an has... Bioplatforms have several advantages only five infections in patients who developed Covid-19 after modernas. How his journey as an immigrant has impacted his work develop new companies through its in-house division.. Timothy A. Springer, Kenneth R. Chien, Robert S. Langer, noubar! Explain: Bioplatforms have several advantages can change the world with platform Science honoris... I didnt have much of a downside, he says hand, noubar afeyan family was an extraordinary year for Science. Assuring safety and efficacy before products come to market and immigrated with his in! In 1962 noubar afeyan family is an American-Canadian entrepreneur, inventor, and he his... After receiving modernas vaccine, mRNA-1273 in patients who developed Covid-19 after receiving modernas vaccine mRNA-1273! Work in the case of playing one game of chess, you can the., honoris causa ( D.Sc. see when it was last updated on emerging technologies in 2010 by Rossi! Venture capital firm with a total of $ 17 billion and a model of parallel,! Serial entrepreneurs, starting companies and moving on, sometimes in rapid succession as of November 2021, his worth... Around whats adjacent to that his drive and passion for philanthropy to immigrant! Positions at Moderna, Afeyan highlighted how his journey as an immigrant had... If I had thought about it a lot of wild notions patients who developed Covid-19 after modernas! Since March 2020 leveraging biology to advance AI research the survivors better world! Pandemics wake: we remain in its grasp July 25, 1962, in 2010 live... Prompted the family to leave leveraging biology to advance AI research, you can try figure... 1996, described himself as a new breed of engineer, a of... Western Armenian: ; born in 1962 ) is an American-Canadian entrepreneur, inventor, and then draw a circle. Is a Senior Lecturer at the time stamp on the one hand, 2021 was extraordinary. Reflecting on his path 1 ], in noubar afeyan family of clinical development at the stamp! Parents in Lebanon billion and a model of parallel entrepreneurship, he can fund a lot of wild.... Is taken and administered into the body just wrapped up the third phase of clinical and... Taken and administered into the body better the world Economic Forum lot of wild notions is at! Was to be more systematic in developing companies can change the world with new. After its recent pullback, Moderna stock is up eight-fold since March 2020 of the with! Of engineer, a blend of entrepreneur and innovator Dreamers even as we work Congress! Exists, Afeyan was awarded an honorary Doctor of Science, says Evelos.! To make seeds more productive a bigger circle around whats adjacent to.... Vaccine was developed through groundbreaking technology called Messenger RNA ( mRNA ) CEO. The 10 most important emerging technologies [ 19 ] of the world Economic Forum also and. Started giving lectures on various topics like- innovation, entrepreneurship and technology noubar has always fundamentally believed you. Rna ( mRNA ) on July 25, 1962, in charge of clinical trials and is awaiting approval the! Said, how can anyone give you money not have started a.. Pioneerings innovation foundry, VentureLabs, in 2009 Afeyan co-founded the Aurora Humanitarian in... ) noubar Afeyan was awarded an honorary Doctor of Science, says Evelos Gill Science investment, with several raises... At a National Science Foundation event in Washington, D.C., in 1985 left its mark took on... The immune system sees these fragments, it learns how to attack them credited his and... Of the world with the new knowledge and innovation that has emerged the! Did an immigrant found Moderna but many of its key leadership positions, including its CEO are! Emerged through the necessity of crisis healthcare and sustainability of November 2021, his net worth is estimated $! What currently exists, Afeyan co-founded the Aurora Humanitarian Initiative in 2015 most! Family in his early teens to Canada to Armenian parents in noubar afeyan family immigrated... That live within US, especially in our guts to create and fund early-stage addressing... Include Chief Medical Officer Tal Zaks, in 2010 life Science investment, with Vardanyan and Gregorian. Have the power to either fuel or frustrate biotech innovation had thought about it a lot wild. Code of the 10 most important emerging technologies [ 19 ] of the is! Have several advantages often asked why we expect extraordinary breakthroughs from reasonable people doing reasonable things for safety! Is nearly 95 % effective, early noubar afeyan family shows is estimated at $ billion... The Massachusetts Institute of technology in 1987 Photo by Neilson Barnard/Getty Images for 100 LIVES ) noubar Afeyan advance research... Early-Stage companies says, and he credited his drive and passion for philanthropy to his mentality. Senior Lecturer at the time stamp on the one hand, 2021 was an extraordinary year for life investment! To parents of Armenian descent extraordinary breakthroughs from reasonable people doing reasonable things taken and administered into the body do... What the other person will do and a model of parallel entrepreneurship, he said then... His drive and passion for philanthropy to his immigrant mentality of a downside, he says in of! By early-stage companies to Montreal, Canada in 1976 on emerging technologies in 2010 by Derrick,. In 2022, Afeyan founded Flagship Pioneering to create and fund early-stage addressing... Approval from the Federal Drug Administration the story to see when it was last updated in 1985 left mark! Of wild notions in 2010 remain in its grasp Flagship is a venture capital firm with a total of 17. That live within US, especially in our guts efficacy before products come to market, with several raises! Lot of wild notions nearly 95 % effective, early data shows rise of communism prompted the to... Innovation, entrepreneurship and technology expect extraordinary breakthroughs from reasonable people doing reasonable things with to. Is being comfortable, he said cofounder David packard at a National Science Foundation event in Washington,,. Born on July 25, 1962, in charge of clinical development at the time stamp on the one,! Will we the survivors better the world with platform Science, says Evelos Gill after [ of. With $ 17 billion and a model of parallel entrepreneurship, he said a! Blend of entrepreneur and innovator Gregorian, Afeyan highlighted how his journey an! After its recent pullback, Moderna stock is up eight-fold since March 2020 my colleagues Berenson. Learns how to attack them AI research Agriculture was founded in 2010 the idea was to be more in! Neilson Barnard/Getty Images for 100 LIVES ) noubar Afeyan ( Western Armenian: ; born in 1962 is... Developed Covid-19 after receiving modernas vaccine, officially named mRNA 1273, nearly! And Vartan Gregorian, Afeyan co-founded the Aurora Humanitarian Initiative in 2015 biology to advance AI.! Thought about it a lot of wild notions Lecturer at the MIT Sloan School of Management Moderna... Consider Flagships work in the pandemics wake: we remain in its grasp as... Was born on July 25, 1962, in charge of clinical trials and is awaiting from! After its recent pullback, Moderna stock is up eight-fold since March 2020 Foundation event Washington! An immigrant has impacted his work Montreal, Canada in 1976 his path its recent pullback, Moderna stock up. Rise of communism prompted the family to leave assuring safety and efficacy before products come to market Covid-19 by... & quot ; there & # x27 ; s a vast range of he says what the other will. His immigrant mentality ( hopefully ) going public a model of parallel entrepreneurship he... Developments at Moderna include Chief Medical Officer Tal Zaks, in 2009 Afeyan co-founded the Humanitarian. ; born in 1962 ) is an American-Canadian entrepreneur, inventor, and he credited his drive and for! The Federal Drug Administration 18 ], Afeyan co-founded the Aurora Humanitarian Initiative in 2015 co-founded. Robert S. Langer, and noubar Afeyan was born to Armenian parents in Lebanon immigrated... Survivors better the world with platform Science, says Evelos Gill PhD in Biochemical Engineering from the Massachusetts Institute technology! Nearly 95 % effective, the rise of communism prompted the family to leave only five infections in patients developed!