Businessweek: "In 198, the genetic engineering technology company went public, and its share soared from $35 to $88 within an hour, so its value soared to $35 million. This incident is one of the biggest cases in the US stock market. "
Genentech, a genetic engineering technology company, was founded in 1976 by venture capitalist Robert A.Swanson and biochemist Dr.Herbert W.Boyer. In the early 197s, Boyer and Danny Cohen, a geneticist, started a new scientific field called DNA recombination technology. Swanson was so excited about this breakthrough that he called Boyle to request a meeting. Boyle agreed to give the young entrepreneur ten minutes. Swanson's enthusiasm for this technology and firm belief in its commercial prospects are infectious, and the meeting was extended from 1 minutes to 3 hours: as a result, the genetic engineering technology company was announced.
Swanson and Boyle are both skeptical in the academic and business circles, but they are determined to put their ideas into practice. In just a few years, they proved the dissidents wrong. Here you can review the development history of Genentech Company. In 1976, Swanson and Boyle founded Genetic Engineering Technology Company on April 7th.
in p>1977, gene engineering technology company made human protein (growth hormone inhibin) for the first time through microorganism (Escherichia coli).
in p>1978, artificial insulin was synthesized by scientists from genetic engineering technology company. In 198, the genetic engineering technology company went public, and within an hour, its share soared from $35 to $88, so its value soared to $35 million. This incident is one of the cases with the biggest increase in the stock market.
in p>1982, the first recombinant DNA drug was marketed: artificial insulin. (Eli Lilly and Company got the concession. )
In p>1984, the laboratory product of coagulation factor VIII, an anti-hemophilia factor, came out. Genetic engineering technology company granted Cutter Biological the franchise of global production and sales of coagulation factor VIII.
in p>1985, the genetic engineering technology company obtained permission from the American Food and Drug Administration (FDA) to market its first product, protropin (R) (growth promoting hormone for injection). This is an auxin used to treat auxin deficiency in children. This is also the first pharmaceutical product produced and sold by a biotechnology company using DNA recombination technology.
in p>1986, gene engineering technology company authorized Hoffmann-La Roche's interferon α-2 under the trademark of Roferon(R)-A to be used in the treatment of hairy cell leukemia from FDA. Genetic engineering technology company launched a non-insurance program to provide free human growth hormone to poor patients without insurance in the United States.
in p>1987, the genetic engineering technology company was approved by FDA to market activise (r) (alteplase), which is a tissue-plasminogen activator (t-PA), which can dissolve blood clots formed when heart patients suddenly have myocardial infarction.
in p>1988, the non-insurance plan of genetic engineering technology company was extended to Activase.
in p>1989, genetic engineering technology company opened the child care center "Genentech's Second Generation", which is one of the child care centers under the largest company in the United States. Gene engineering technology company approved by FDA to market Activase for the treatment of acute massive pulmonary thrombosis. Genetic engineering technology company and Swiss Bessel Rossi Co., Ltd. completed a $2.1 billion merger. In 1991, two Japanese t-PA franchisees began to sell this product in Japan.
In p>1992, Genetic Engineering Technology Company and Rossi Company announced an agreement to jointly develop, register and sell Pulmozyme(R) (recombinant) absorption solution in major European countries. Genetic Engineering Technology Company and Rossi Company have entered the research and development cooperation in the following fields: the automatic retrieval system of Rossi Chemical Library based on biotechnology to identify alternative new drugs. A Special protein Based on Tumor Bad Factor (TNF) Uptake. Genetic engineering technology company has put into use the founder research center, the largest biotechnology research institution in the world. The honor of the center is dedicated to the founders Robert Swanson and Dr.Herbert Boyer to praise their vision and determination to pursue the development of biotechnology wholeheartedly.
in p>1993, the genetic engineering technology company approved the FDA to market Nutropin(R)[ somatropin for injection with ribosomal DNA as the starting point of replication], which was used for the treatment of children with chronic kidney deficiency before kidney transplantation. Genetic Engineering Technology Company established the Growth and Development Foundation of Genetic Engineering Technology Company, which is an independent non-profit organization. Its purpose is to promote people's understanding of children's growth and development, encourage medical practitioners and nurses to engage in research, and create opportunities for them that they did not have before.
Genetic Engineering Technology Company has obtained permission from distributors in the United States, Canada, Sweden and New Jersey to sell Pulmozyme for the treatment of gallbladder fibrosis. Coagulation factor VIII of genetic engineering technology company-licensed to Miles Company in 1984 (formerly Cutter Biological)-was approved by FDA for the treatment of hemophilia A. Bovine growth hormone from genetic engineering technology company-licensed to Monsanto company and distributed under the name of Posilac-obtained FDA permission. Gusto (global use of streptomycin and t-Pa for coronary artery occlusion) test showed that in the test of 41, patients, the rapid injection of Activase mixed with No.4 heparin ester could reduce the mortality of heart patients by 14% compared with the single injection of streptomycin (Kabikinase brand). Genetic engineering technology company announced a permanent regulation against Wellcome Foundation, which prohibited Wellcome from selling t-PA in the United States before the patent period of genetic engineering technology company expired in 25. Genetic engineering technology company started Access Excellence, a national communication network project costing 1 million dollars, in order to enable senior high school biology teachers in China to establish contact with experts and their colleagues.
In p>1994, the genetic engineering technology company introduced the "Pulmozyme Patient Assurance" to ensure that every qualified patient with gallbladder fibrosis who needs Pulmozyme and related equipment in the United States can get it, and to ensure that the company's research on gallbladder fibrosis continues to keep unremitting pace. Genetic engineering technology company announced that it will build a new factory costing 15 million dollars in Vacaville, California. Genetic engineering technology company and Eli Lilly and Company have solved all outstanding patent infringement, contract violation and related claims, and ended the long-term dispute over recombinant human growth hormone. Genetic engineering technology company reached an agreement with Alkermes company to develop the research on the sustained release process of two kinds of protein, both of which used the unique ProLease(r) micro-encapsulation technology of Alkermes. Genetic engineering technology company reached an agreement with IDEC Pharmaceuticals to develop IDEC's anti- CD2 monoclonal antibody C2B8, which is used to treat non-Khodykin's B-cell lymphoma. The company obtained the permission of FDA to market a rapid injection therapy of Activase. Genetic engineering technology company signed an agreement with Roche Holding, Ltd., extending Roche's four-year option to buy the company's repayable common stock at a pre-requisite price of 1/4 higher than 82.5 USD per share. As part of the agreement, genetic engineering technology company began to obtain patents from Pulmozyme in Europe and all the products of genetic engineering technology company in Canada because Roche was responsible for the sales of these products.
1996: The company celebrated its 2th anniversary. With the approval of FDA, Nutropin AQ(R) (somatropin for injection with ribosomal DNA as the replication starting point) was approved by the company. ), which is the first and only liquid (aqueous) recombinant human growth hormone, is used to treat the growth defects of children with chronic kidney deficiency before kidney transplantation, and can also be used to treat the imbalance of growth hormones in children. The company was approved by FDA to market Activase for treating acute ischemia and cerebral hemorrhage. With the approval of FDA, Nutropin, which is used to treat short stature and Turner complications, will be listed. The company approved by the FDA to market Pulmozyme for the treatment of patients with deteriorating gallbladder fibrosis.
in p>1997, Rituxan(R)(Rituximab) was listed by the company and its partner partner IDEC Pharmaceuticals, Inc. with the approval of FDA for the treatment of relapsed and refractory patients with low-grade or small-vesicle CD2 non-Khodykin B-cell lymphoma. Nutropin AQ was approved by FDA to be listed for the treatment of short stature complicated with Turner's disease. Nutropin and Nutropin AQ are listed by the company with the approval of FDA for the treatment of adult auxin deficiency. The company started a service called SPOC (single point contact) for auxin patients, cancer patients and their doctors to provide reimbursement assistance for customers. The company signed an agreement with Alteon, Inc. on the further development and marketing of Pimagedine. Pimagedine is an oxygen inhibitor with advanced glycosylation end products (A.G.E) structure, which is currently in the third clinical trial stage and is used for renal treatment of diabetic patients. The agreement also includes the right to the second-generation A.G.E structural oxygen inhibitor, which is currently in the preclinical development stage. The company signed an agreement with LeukoSite, Inc. on the development and commercialization of LeukoSite's LDP- 2, an artificial monoclonal antibody for treating enteritis. The company signed an agreement with Incyte Pharmaceuticals, Inc. on the DNA sequence of Incyte's LifeSeq(Tm) and the use of gene expression information database.
The technology of treating hemophilia with recombinant artificial coagulation factor VIII and the pharmaceutical technology of recombinant artificial coagulation factor VIII were granted patents. Accordingly, the patent in Europe was granted in 1991. In recognition of the outstanding contribution of genetic engineering technology company to the establishment of biotechnology industry in this city, the city of San Francisco renamed 4 blocks of Point San Bruno Avenue with "DNA Road" and named the address of genetic engineering technology company on the new avenue as "No.1 DNA Road".
in p>1998, with the permission of FDA, the genetic engineering technology company changed the trademark of Pulmozyme, including the safe and flexible management of Pulmozyme for patients with gallbladder fibrosis under 5 years old. Genetic engineering technology company has obtained two new patents on variants of t-Pa. The company filed a patent infringement lawsuit against Centecor, Inc., accusing Centecor of infringing the two new patents of genetic engineering technology company by selling, quoting, using and importing Retevase(Reteplase) t-PA in the United States. Genetic engineering technology companies seek permanent legal protection and compensation for losses. Genetic engineering technology co., ltd. agreed to provide Sumitomo pharmaceutical co., ltd. with the development, import and distribution of Nutropin AQ and ProLease encapsulated sustained-release human growth hormone in Japan. Genetic engineering technology company authorized Connetics company to sell Actimmune for controlling chronic granulomatosis in the United States, and the right to develop and commercialize this product in the United States. Genetic engineering technology company submitted a monopoly application, requesting the listing of Herceptin(R)(trastuzumab) for the treatment of malignant breast cancer. Herceptin has obtained the fast-tracking product designation of FDA, which can ensure that the monopoly application seeking market development will be reviewed in time. The genetic engineering technology company signed an agreement with DAKO, according to which DAKO can develop a set of in vitro diagnostic equipment, which can be used to identify breast cancer patients caused by excessive secretion of an auxin receptor called HER2. DAKO also has the right to cooperate with the genetic engineering technology company on the treatment of HER2 and Herceptin with artificial monoclonal antibodies.
In the course of its development, genetic engineering companies are constantly developing new products and technologies in an effort to maintain their technological and competitive advantages. Biotechnology is a promising industry. In the big round of the world economy, biotechnology is insignificant compared with the information technology industry. Unlike IT industry, biomedicine has the characteristics of long investment period. However, truly discerning investors, especially venture capitalists, and entrepreneurs in the biomedical field will not give up this world full of opportunities and challenges. Robert Swanson and Herb Boyle are among them. Robert Swanson (1947-)
Summary
What did a venture capitalist leave in the history of biotechnology development? In order to set up enterprises and make drugs finally available to people in need, venture capital, perhaps more importantly, business acumen and creativity, is a powerful and indispensable partner of genetic engineering technology itself.
Career
At the age of 27, Robert Swanson worked for one of the most influential and successful venture capital companies in Silicon Valley, and he began to think about the gold buried in the curiously poked cells in the laboratory. These laboratories are all over the world, and even more attractive, maybe in his own backyard? He looked around and met with people who he thought could inspire him to seek business opportunities from the exciting development of microbiology. His educational background gave him a strong guarantee to pursue this career. He holds a bachelor's degree in chemistry from MIT and a master's degree from MIT Si Long Business School. He also served as the investment director of Citibank for four years.
But Swanson only pondered in these hazy consciousness, without clear and profound knowledge. He didn't expect that a random visit with a scientist at UCSF would turn the possibility of genetic control into