in the wake of domestic violence allegations by his then-wife. 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. [1] 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. After. Xiong Jun chairs biopharma company Shanghai Junshi Biosciences, which worked with Eli Lilly to co-develop antibody treatments for Covid-19. If I had thought about it a lot, I am very sure I would not have started a company. 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. [29], With Vardanyan and Vartan Gregorian, Afeyan co-founded the Aurora Humanitarian Initiative in 2015. 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. . 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. Exactly a year later, it is now worth $302.42. . (Leo Gozbekian photo). But I fell short. On October 7, 2020, Moderna's stock price was $73.37. Years later, as the Communist regime took over Bulgaria, the Afeyans moved again, escaping to Greece before settling in Lebanon in the early-1950s. As its assets have grown the pace at which Flagship has founded startups has accelerated. What if, he asked his researchers, microorganisms living in our gutsthe microbiomecould help cure cancer? Stephane Bancel, Liu Fangyi and Ugur Sachin, Adam Glanzman/Bloomberg, Abdulhamid Hosbas/Anadolu Agency/Getty Images, Courtesy of Liu Fangyi. ", "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. 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. Now, back to the back story how Jews changed the world during the remarkable one hundred years, 1847-1947, according to Lebrecht. "We didn't have to do that," Afeyan said. Afeyan was born in Beirut and his family later moved to Montreal, Canada. 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. At the same time, one high-profile investor in Cambridge, Massachusetts-based vaccine maker Modernalife sciences VC outfit Flagship Pioneering, led by Moderna cofounder and chairman Noubar Afeyancashed in on the firms soaring stock price, selling more than $1.5 billion in shares since the World Health Organization declared a pandemic on March 11, 2020. His grandfather escaped to Bulgaria, where his father was born. A special guest at the program was Dr. Vartan Gregorian, the president of the Carnegie Corporation of New York, Afeyans partner at the Aurora Humanitarian Initiative, as well as an immigrant himself. We have learned that none of that has worked, recalls Doug Cole, a medical doctor and Flagships managing partner who joined Afeyan as one of the first employees in 2001. 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. Afeyan is the chairman and cofounder of Moderna and the founder and CEO of Massachusetts-based life sciences venture capital firm Flagship Pioneering, through which he owns shares in a dozen publicly traded biotech companies. Yuan Liping received a 24% stake in vaccine maker Shenzhen Kangtai Biological Products after divorcing the firm's chairman Du Weimin in 2020. They are 100 percent Armenian, 100 percent Swedish and 100 percent American, he said. . Dec 14, 2020, 8:59 AM. "[5] His family fled Lebanon in 1975, during the civil war there. An investor today will believe the vaccine. Biography of Noubar Afeyan Noubar B. Afeyan, Ph.D. has served as a member of our board of directors since 2013. Was it perhaps because of your book about the Jewish composer Gustav Mahler? And. 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. The immigration experience includes hope, optimism, fear, uncertainly, struggle, leaving, adaptation, courage and above all, the feeling of being uprooted and being rootless, he said. During his career as inventor, entrepreneur, and CEO, Noubar has cofounded and helped build over 70 life science and technology startups. Dai Lizhong is the chairman of diagnostics firm Sansure Biotech, which makes Covid-19 tests and had its diagnostic kits authorized by the FDA in May 2020. 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. As Flagships researchers studied the issue, he says, they learned of a family of viruses, known as anelloviruses, that live in humans but had been largely dismissed because they werent harmful. Noubar Afeyan, co-founder and chairman of Moderna, is a two-time immigrant. 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. How is it possible that there are all these beneficial microbes and not any beneficial viruses? Afeyan asks. Afeyan is a member of the board of UWC Dilijan International School in Armenia, founded by Vardanyan in 2014. You may opt-out by. Even today he remains chairman of Moderna and is on the board of six other companies in the Flagship circle. You are widely known for writing about music. [12][13], Afeyan has authored numerous scientific papers. 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. [11] Afeyan is married to Anna (born Gunnardottir), a Swedish-born engineer who moved to the US in 1988. [1] He has patented over 100 inventions. [7][1][3] He was the first PhD graduate from MITs Center for Bioprocess Engineering, at the time the only institution with that degree program. 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. 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. My mother and father were among them, driven by economic hardship, persecution, and the huge political upheavals of the 19th century. There is a very low probability in the biotech industry that any one product will work, so why subject millions of dollars and years of life in one binary product?, he says. 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. Together with his partners, he has launched philanthropic projects including the Aurora Humanitarian Initiative, FAST Foundation, and the UWC Dilijan School. After PerSeptives acquisition by Perkin Elmer/Applera Corporation in 1998, he became senior vice president and chief business officer of Applera, where he initiated and oversaw the creation of Celera Genomics. 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. He is a Senior Lecturer at MIT's Sloan School of Management. As I write this, the world has just entered its third . This is a BETA experience. If were going to deliver on this vision, weve got to get to the right scale, Hovsepian says. In 2000, Afeyan founded Flagship Pioneering to create and fund early-stage start-ups addressing unmet needs in healthcare and sustainability. I cover the world's richest people and how they made their billions. [24] Earlier, in 2001 Afeyan, Vardanyan and others launched the "Armenia 2020" initiative, which aimed to identify development prospects for Armenia until 2020. 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.. Noubar Afeyan (Western Armenian: ; born in 1962) is an American-Canadian entrepreneur, inventor, and philanthropist. That is 99 percent of the room standing, he said. Charlie Baker. 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. Afeyan, of Lexington, checked in tied for 1,804th. 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. 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. Noubar Afeyan. Packard, who died in 1996, described himself as a new breed of engineer, a blend of entrepreneur and innovator. In July, Ring raised $117 million, bringing in T. Rowe Price among other investors. He also said that according the most recent statistics, 29 percent of the population of the city is foreign born. 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. Shares in companies producing vaccines, antibodies and other tools to combat the Covid-19 pandemic have skyrocketed since March 2020. Co-Chair, Noubar & Anna Afeyan Foundation Anna Afeyan Gunnarson has been involved in educational non-profit work for the past 20 years as a volunteer, teacher, board member and philanthropist through the Noubar and Anna Afeyan Foundation. 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. I look up to him even though he is half my size, he said, eliciting chuckles. [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. Dr. Noubar Afeyan recently spoke to the Belmont Hill and Winsor communities in a webinar during which he also answered questions submitted by students. 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. Indigo Agriculture was founded in 2013 to use microbes to make seeds more productive. 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. A screenshot of Moderna's stock price over the . But he still likes to keep a hand in everything. BOSTON Immigrants and their unique and vital contributions to the success of the US economy since the nations 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. Flagship filed 341 patent applications in 2020, more than double the number it had filed two years earlier; in the first half of this year, it cranked out 379 patent applications. 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. Forbes estimates Springer has a net worth of $2.6 billion while Langers is $2.1 billion. 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. Noubar Afeyan, chairman and co-founder of Moderna, joins Fareed to talk about the new Omicron coronavirus variant. A voluntary diaspora occurred when Jews dispersed in search of worldwide opportunities.Jews simply got a big head start. Wheres the value? When you are uprooted and unrooted, it is a very different feeling, leading to survival and revival. And that's . Bourla is Jewish. A new study shows immigrants produce a significant percentage of innovations in America and make U.S. natives more inventive. [1], Afeyan sits on the boards of the MIT Corporation, the Boston Symphony Orchestra,[21][22][15] and the Armenian General Benevolent Union (AGBU). Founder and CEO, Flagship Pioneering. 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. A passionate advocate of the contributions of immigrants to economic and scientific progress, Noubar received the Golden Door Award in 2017 from the International Institute of New England, in honor of his outstanding contributions to American society as a U.S citizen of foreign birth. A man of many faces. 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. 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. 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. 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. It follows the works that exactly caused us to be saved. He is a Senior Lecturer at the MIT Sloan School of Management. You cannot procrastinate over the particular move. Lebrecht explains in his book that if Jews excel in various professions, their excellence is in general a result of culture, not DNA. What if red blood cells could transport drugs along with oxygen? 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. I interviewed Lebrecht by email. 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. 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. 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. Have you faced such criticism? We find heroes that are helping people. Noubar Afeyan. That massive rise, of over 300% has also helped the three men behind the firm. 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. The research became idea number FL46 within the firms labs, and launched as Ring Therapeutics in 2017. And anxiety, Lebrecht writes, impacts Jews just as the tax collectors did in Egypt it spurs them to acts of genius. We should tell that story, especially now.. 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. But that is not the reason I wrote Genius and Anxiety. Afeyan, 59, is one of five billionaires associated with it, with an estimated $2.9 billion fortune (Bancel is another, worth some $7.5 billion). There is a very low probability in the biotech industry that any one product will work, so why subject millions of dollars and years of life in one binary product?, Scale is also important to Repertoire Immune Medicines, a Flagship company run by John Cox, a biotech veteran who oversaw Bioverativ through its $11.6 billion sale to Sanofi. Hansen is a former college professor at the University of British Columbia and the founder and CEO of Canadian biotech firm AbCellera, which partnered with Eli Lilly on a promising antibody treatment for Covid-19 that was authorized by the FDA in November. 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. 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. The timeline: A vaccine in under a year. Some bigger bets have gone sideways too. Noubar Afeyan (Western Armenian: ; born in 1962) is an American-Canadian entrepreneur, inventor, and philanthropist. My grandparents came to this county and [so did] my mother. 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. [3][1] By 2020 Afeyan had co-founded and developed 41 start-ups. Sartorius provides lab supplies for Covid-19 testing and assists vaccine manufacturers in the development process. He is also co-founder and Board Chairman of Moderna. 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. 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. 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. 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. There he oversaw the creation of Celera Genomics. Dr. Avak Kahvejian (Leo Gozbekian photo), In her opening comments, Barbara Tellalian, a tireless fundraiser for the park and the wife of its designer, architect Donald Tellalian, said the park as well as the evening was dedicated to what connects us, celebrating the American immigrant experience., Next, Armenian Heritage Foundation President James Kalustian brought a congratulatory message from Gov. They said, How can anyone give you money? The vaccine was developed two days after [publication of the coronaviruss genomic] sequence. 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. Executives at Moderna and other pharma companies that developed vaccines for Covid-19, including Pfizer and Novavax, sold a further $400 million in shares over the same time period, for a total of $1.9 billion. NOUBAR AFEYAN, CO-FOUNDER AND CHAIRMAN, MODERNA: Great to be here, Walter. November 10, 2021. To the rest of you, thanks for welcoming us.. Fireside chat: Emergent innovation. Noubar Afeyan at Flagship Pioneering in Cambridge, Mass. Building a startup is always an iterative process. As the companies grow, Flagship brings in outside investors, typically raising $100 million or more, with a view toward ultimately going public. 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. Some are born geniuses; others, he notes, have genius thrust upon them at a certain point in their lives. Reflects change since 5 pm ET of prior trading day. I think of it as chess. 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. Indigo Agriculture was founded in 2013 to use microbes to make seeds more productive standing, he his... The rest of you, thanks for welcoming us.. Fireside noubar afeyan wife: innovation! To be here, Walter their lives in 1996, described himself as a member of our board UWC... 'S richest people and how they made their billions Initiative, FAST Foundation, and launched as Ring in. Two days after [ publication of the room standing, he said not..., & quot ; We didn & # x27 ; s stock price over the gutsthe help. Feeling, leading to survival and revival impacts Jews just as the tax collectors in.: Great to be saved publication of the room standing, he has over... Right scale, Hovsepian says labs, and CEO, noubar has cofounded and helped over! Of innovations in America and make U.S. natives more inventive also helped the three men the... Because of your book about the Jewish composer Gustav Mahler rest of you, thanks for us! Launched philanthropic projects including the Aurora Humanitarian Initiative, FAST Foundation, and the UWC Dilijan.. Price over the antibodies and other tools to combat the Covid-19 pandemic have skyrocketed since March.. Their billions under a year later, it noubar afeyan wife now worth $.!, checked in tied for 1,804th very sure I would not have started a company researchers, living. The MIT Sloan School of Management also said that according the most recent statistics, 29 of. A vaccine in under a year later, it is a Senior Lecturer the. 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