Word: swansons
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Dates: during 1980-1989
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Genentech Inc. was co-founded in 1976, in South San Francisco, by Venture Capitalist Robert Swanson, 32, and University of California Biochemist Herbert Boyer, 44. The company now has a staff of 200. It has signed research agreements with several large pharmaceutical houses, including Hoffmann-La Roche and A.B. Kabi, and leads all gene-splicing firms by offering half a dozen products. Among them: several types of interferon, one of which is now undergoing clinical trials. Genentech is also collaborating with another leading drug company, Eli Lilly, on mass production of human insulin. Last week Genentech announced its latest gene...
Boyer's success is a result of brains and foresight, plus a strong independent streak. In 1976, after the first flush of public excitement about gene splicing, Boyer got an unexpected telephone call from Robert Swanson, a young venture capitalist. Swanson wanted to discuss the commercial possibilities of the new science, and many scientists might have kept him at arm's length. Boyer invited Swanson to his lab for a chat but told him he could only spare 20 minutes. The two hit it off so well they went on talking over beers at a local...
Yielding to Swanson's enthusiasm, Boyer borrowed $500 and joined him in forming a company to exploit the new technology. They dubbed it Genentech (for genetic-engineering technology). As Boyer explains, "He wasn't happy with Boyer & Swanson, and I wasn't happy with Swanson & Boyer." The motives of the two were different. Swanson was 28, with degrees in chemistry and business administration from M.I.T. After several years of seeking out investment opportunities for others, he wanted to show the world he could succeed with a business of his own. Boyer, on the other hand, was interested...
...next Tuesday, shuttle buses will run every 15 minutes instead of every 12 minutes, Carl V. Swanson, superintendent of central services for Buildings and Grounds, said this week...
...Swanson was unavailable for comment last night...