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How an angel investment made a return of 17,000% valuing the investor over a Billion Dollars!
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2020 has not been the worst for everyone! Some have survived, some have thrived and some got a 17,000% return on their investments!
Crazy, right?
2020 has not been the worst for everyone! Some have survived, some have thrived and some got a 17,000% return on their investments!
Crazy, right?
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We are talking about Timothy A. Springer. A Harvard professor who became a billionaire due to coronavirus.
He's been teaching at Harvard Medical School since 1977.
We are talking about Timothy A. Springer. A Harvard professor who became a billionaire due to coronavirus.
He's been teaching at Harvard Medical School since 1977.
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He’s not like other good old professors. Springer is one of the wealthiest academics in the US.
He founded LeukoSite which he took public in 1998 and sold to Millennium Pharmaceuticals in a deal worth $635 million.
He’s not like other good old professors. Springer is one of the wealthiest academics in the US.
He founded LeukoSite which he took public in 1998 and sold to Millennium Pharmaceuticals in a deal worth $635 million.
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He made about $100 million from the deal!
Fast forward to 2010, his Harvard colleague Derrick Rossi was struggling to get VCs interested in his idea to use messenger RNA to transform stem cells treatment.
He made about $100 million from the deal!
Fast forward to 2010, his Harvard colleague Derrick Rossi was struggling to get VCs interested in his idea to use messenger RNA to transform stem cells treatment.
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So considering Springer’s success with LeukoSite he asked for advice. They went to a few VCs and no one wanted it.
So considering Springer’s success with LeukoSite he asked for advice. They went to a few VCs and no one wanted it.
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But, Springer liked the idea and put some money into it and made some introductions to some other people, those people included Robert Langer & Flagship Pioneering, a firm that incubates and launches life-science companies.
This is how Moderna was born.
But, Springer liked the idea and put some money into it and made some introductions to some other people, those people included Robert Langer & Flagship Pioneering, a firm that incubates and launches life-science companies.
This is how Moderna was born.
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Springer is now the 4th largest shareholder in Moderna and his angel investment of $5Mn gave him a return of 17000% valuing him over a Billion Dollars!
Springer is now the 4th largest shareholder in Moderna and his angel investment of $5Mn gave him a return of 17000% valuing him over a Billion Dollars!
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From December 2008 through this November, Springer estimates that his internal rate of return (IRR) is about 57%.
From December 2008 through this November, Springer estimates that his internal rate of return (IRR) is about 57%.
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As if this was not enough, in the midst of this pandemic another of Springer’s ventures called Scholar Rock Holding Co. went public this year and since the IPO, shares have risen more than 90 percent.
As if this was not enough, in the midst of this pandemic another of Springer’s ventures called Scholar Rock Holding Co. went public this year and since the IPO, shares have risen more than 90 percent.
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“I feel that I’ve had more than enough wealth for myself for some time," Springer said. “I don’t feel I need more."
“I feel that I’ve had more than enough wealth for myself for some time," Springer said. “I don’t feel I need more."
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In 2017, he donated $10 million to establish the Institute for Protein Innovation, an independent nonprofit dedicated to researching protein science and helping biotech entrepreneurs realize their ideas.
In 2017, he donated $10 million to establish the Institute for Protein Innovation, an independent nonprofit dedicated to researching protein science and helping biotech entrepreneurs realize their ideas.
