Prof. Springer turned a billionaire once his stake in Moderna manifolded.
During this pandemic, a handful of businessmen has got richer by billions.
Scientists ain’t those people whose net worth grew drastically, except one.
Harvard University Prof. Timothy Springer has made it to the billion-dollar bracket.
Serial investor Springer started a biotech firm in the 1990s.
After going public, his company was acquired by Millennium Pharma & Springer made a $100 M fortune from it.
In 2010, he invested $5 M in Moderna in exchange for a 3.5% stake.
Moderna was the first company to start promising Covid vaccine human trials in March.
Since then, its shares have exhibited a trifold rise & that small investment has turned to a whopping $870 M by now.
That’s the tip of the iceberg.
Springer’s bet also includes 3 publicly traded small biotech start-ups, being a co-founder amongst 2 of them.
He aims to capitalize on his research at Harvard & make antibody-based drugs easier to produce & inexpensive.
Several such drugs have already been approved by the FDA in the past.
Springer is an active philanthropist too. He’s donated $10 M to establish the Institute of Protein Innovation, a non-profit protein research organization.
The simple man rides a bike to his work every day & grooms postdoc scientists in immunology research.