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Biotechnology
April 7, 1976
- Venture capitalist Robert A. Swanson, biochemist Dr. Herbert W.
Boyer (pioneered recombinant DNA technology) founded biotechnology
company, Genentech
in South San Francisco in one
rented building and two staff members; 1977 - produced first human protein (somatostatin) in microorganism (E. coli bacteria); 1978 - cloned human insulin; 1979 - cloned human growth hormone; 1980 - went public; 1982 - marketed First recombinant DNA drug, human insulin (licensed to Eli Lilly and Company); 1985 - received approval from U.S. Food and Drug Administration (FDA) to market first product, Protropin® (somatrem for injection) growth hormone for children with growth hormone deficiency (first recombinant pharmaceutical product manufactured, marketed by biotechnology company); 1990 - merged with Roche Holding Ltd. (Basel, Switzerland) in $2.1 billion deal; 1995 - extended for four years Roche's option to purchase outstanding redeemable common stock of company at predetermined price; 1997 - launched a service for patients, their physicians called SPOC (Single Point of Contact) to provide customer-focused reimbursement assistance (renamed Genentech Access Solutions in 2008); 1998 - dedicated $250 million manufacturing facility in Vacaville, CA (received FDA licensure as multi-product facility in 2000); 1999 - Roche Holdings, Inc. exercised its option, Genentech redeemed all of outstanding special common shares not owned by Roche; announced its intent to publicly sell up to 19% of Genentech shares, continue Genentech as publicly traded company with independent directors; July 20, 1999 - went public, considered largest public offering in history of U.S. health care industry (NYSE trading symbol, DNA); October 20, 1999 - Roche conducted secondary offering of 20 million Genentech shares, largest secondary offering in U.S. history; 2008 - FORTUNE magazine named Genentech (#5) one of "100 Best Companies to Work For" (tenth consecutive year).
June 18, 1981 - First
genetically engineered vaccine announced: first effective
subunit vaccine for any animal or human disease using gene splicing;
designed to prevent hoof and mouth disease (FMD); 1980 -
U.S. Dept of Agriculture scientists turned to recombinant DNA
technology, collaborated with scientists from Genentech, a private
company; inserted a bioengineered plasmid containing the gene for VP3
into Escherichia coli bacteria which grew obeying orders from the guest
DNA, mass-producing the VP3 proteins for the vaccine.
April 16, 1987
- U.S. government authorized patents on genetically engineered
processes, first nation in world to allow such patent applications.
April 12, 1988
- Geneticists Philip Leder, of Chestnut Hill, MA, and Timothy A.
Stewart, of San Francisco, CA, received a patent for "Transgenic
Non-Human Mammals"; assigned to the President and Fellows of Harvard
University; designed to be highly susceptible to breast cancer;
designated as "oncomice," intended for use in testing anticancer
therapies with more efficiency and accurate results.
August 1991 - Calgene Inc. (Davis, CA) submitted
first commercially grown genetically engineered food to U.S. Food and Drug
Administration for approval; first time FDA had evaluated whole food produced by
biotechnology (vs. cross-breeding); May 18, 1994 - Food and Drug
Administration approved Flavr Savr, new tomato developed through biotechnology,
as safe as tomatoes bred by conventional means .
(Amgen), Gordon Binder (2008).
Science Lessons: What the Business of Biotech Taught Me About Management.
(Boston, MA: Harvard Business School Press, 292 p.). Former Chief
Financial Officer, Chief Executive Officer, Chairman of Amgen (1982
-2000). Biotechnology industries -- United States -- Management; Chief
executive officers -- United States -- Biography; Biotechnology --
economics -- Personal Narratives; Biotechnology -- history -- Personal
Narratives; History, 20th Century -- Personal Narratives; Industry --
Personal Narratives. Amgen's climb to success, highs and lows in race to
develop blockbuster drugs; 1989 - launch of Epogen, Neupogen followed; managing creative employees,
navigating IPO process, protecting intellectual property.
(Cetus Corporation), Paul Rabinow (1996).
Making PCR: A Story of
Biotechnology. (Chicago, IL: University of Chicago Press, 190 p.).
Polymerase chain reaction -- History.
(Genentech),
Maureen D. McKelvey (1996).
Evolutionary Innovations: The Business of
Biotechnology. (New York, NY: Oxford University Press, 319 p.).
Genentech, Inc.; KabiVitrum Sverige AB; - Genetic engineering;
Biotechnology industries--United States; Biotechnology
industries--Sweden; Recombinant human insulin; Recombinant human somatotropin.
Robert A. Swanson
- Genentech
(http://www.genentech.com/ gene/about/
corporate/history/images/ swanson.jpg)
Dr. Herbert W. Boyer
- Genentech
(http://www.genentech.com/ gene/about/
corporate/history/images/ boyer.jpg)
Gary P. Pisano (2006).
The Science Business: The Promise, the Reality, and the Future of
Biotech. (Boston, MA: Harvard Business School Press, 237 p.).
Harry E. Figgie, Jr. Professor of Business Administration (Harvard
Business School). Biotechnology industries--History.
Science-based business poses 3 unique challenges:
1) how to finance highly risky investments under profound uncertainty
and long time horizons for R&D, 2) how to learn rapidly enough to keep
pace with advances in drug science knowledge, and 3) how to integrate
capabilities across a broad spectrum of scientific and technological
knowledge bases.
Eric J. Vettel (2006).
Biotech: The Countercultural Origins of an Industry.
(Philadelphia, PA: University of Pennsylvania Press, 273 p.). Bancroft
Postdoctoral Fellow in United States History (University of California,
Berkeley), Founding Executive Director of the Woodrow Wilson
Presidential Library in Staunton Virginia. Biotechnology industries
--History. Story behind genetic engineering,
recombinant DNA, cloning, stem-cell research - practical application of biological knowledge supported by private
investors expecting profitable returns eclipsed basic research supported
by government agencies.
Junfu Zhang and Nikesh Patel (2005).
The Dynamics of California’s Biotechnology Industry. (San
Francisco, CA: Public Policy Institute of California, 139 p.).
Biotechnology industries--California; Venture capital--California.
State accounts for 47 percent of national R&D
spending on biotechnology, generates 53 percent of nation's biotech
revenues.
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