Garo H. Armen

Quick Facts

Full Name	Garo H. Armen
Occupation	Businessperson
Date Of Birth	Jan 31, 1953(1953-01-31)
Age	71
Country	Turkey
Horoscope	Capricorn

Garo H. Armen Biography

Garo H. Armen is one of the most popular and richest Businessperson who was born on January 31, 1953 in Turkey. The birth of his son was on the 31st of January 1953 in Turkey. He relocated into New York City in 1970. As per The New York Times he became messenger for an non-profit Armenian organisation. In the report Armen declared, “I worked five hours a day, five days a week. I got two bucks an hour…and that was a lot of money for me.” His next job was working in the kitchen at The Lawyers’ Club, but it only lasted for a day. “I thought I’d learn to cook. Instead, they asked me to wash dishes. I had to climb into the soup bucket, which was huge, and clean it out. Shortly after, I got a job in a bank as a clerk.”

Armen PartnersPrior to the founding of Antigenics the company in 1994 Armen created Armen Partners an investment firm with a focus on pharmaceutical and biotechnology companies. Armen Partners was also the creator of the highly known creation of the Immunex oncology business in 1993.

In 2002, Ernst & Young recognized him as the NYC Biotechnology Entrepreneur of the Year.

Elan
While retaining his position at Antigenics, Armen became chairman of the board of directors for the biopharmaceutical company Élan Corporation plc from mid-2002 through 2004. The company was on the brink of collapse brought down by an accounting scandal that earned it the label of “Europe’s Enron”. During his tenure, Armen became the architect of the company’s $1 billion restructuring program by strengthening Élan’s finances, refocusing the group on its core clinical development business and returning shareholder value. On the day that Armen assumed chairmanship, the Wall Street Journal and BBC discussed the restructuring plan in some detail. He said “(our) first task is clean house…the world is concerned we’ll file for bankruptcy”.

In 1979, he was awarded his doctorate in physical chemistry at The City University of New York. Armen was the senior vice president of research at Dean Witter Reynolds (1986-1989) with a focus on the pharmaceutical and chemical industries, and also with E.F. Hutton & Company as their first Vice President (1981-1986). Prior to entering the finance industry, Armen had been an associate professor at the Merchant Marine Academy and a research associate at the Brookhaven National Laboratory.

Garo H. Armen Net Worth

Garo H. Armen is one of the richest Businessperson from Turkey. According to our analysis, Wikipedia, Forbes & Business Insider, Garo H. Armen 's net worth $6.95 million (2017). (Last Update: December 11, 2023)

Armen’s quest for the field of drug development began when his mother passed away from breast cancer in the year 1973. The two lived in a tiny Brooklyn apartment in which Armen administered shots of morphine until she passed away. It was 1994 when Armen received a call from Pramod Srivastava, Biochemist at the Mount Sinai School of Medicine to discuss potential development of an Oncophage drug from a commercial and clinical perspective. The procedure involved the removal of the tumor cells of a patient as well as isolating and strengthening the cellular proteins which normally detect the immune system for illness, and injecting these proteins back into patients. It was 1994 when Armen was a cofounder of Antigenics together with Srivastava.

In 1978, during the midst of the energy crunch, Armen was on his way home when he stopped by an gas station. “I noticed that gas pumps only had two digits [for the per gallon price],” in an interview with The Scientist “Realizing that continued rising prices would force the pumps to be replaced in the near future, I borrowed $5,000 to invest in gas pumps.” Then, almost all gas pumps across America was replaced, and Armen was able to earn an estimated $20,000. His curiosity about business was aroused and he had earned him a loan.

By February 2000, Antigenics went public at $18 a share, raising $72.5 million. A few months later the U.S. Food and Drug Administration (FDA) agreed to review the vaccine on an accelerated schedule when the company filed for approval, and Antigenics began recruiting 728 patients with kidney cancer for the phase 3 trial, the largest study conducted in the world.

Height, Weight & Body Measurements

Garo H. Armen height Not available right now. Garo weight Not Known & body measurements will update soon.

Who is Garo H. Armen Dating?

According to our records, Garo H. Armen is possibily single & has not been previously engaged. As of December 1, 2023, Garo H. Armen’s is not dating anyone.

Relationships Record : We have no records of past relationships for Garo H. Armen. You may help us to build the dating records for Garo H. Armen!

Agenus
Armen is chairman and chief executive officer of Agenus Inc., formerly known as Antigenics Inc., a biotechnology company that discovered Oncophage, a personalized cancer vaccine recently approved in Russia for patients with earlier-stage kidney cancer and currently under review with the European Regulatory Agency. The clinical history of Oncophage was described in detail in a story in the Wall Street Journal, August 2, 2007. In another interview with Business Week and CBS, Armen described how the idea of personalized medicine tailored to the patient led to his launching Antigenics with $250,000 of his own money, plus the backing of a few friends. He was initially stirred by the results from animal testing; the vaccine cured 80% of mice in the early stages of cancer with virtually no side effects.

Facts & Trivia

Garo Ranked on the list of most popular Businessperson. Also ranked in the elit list of famous people born in Turkey. Garo H. Armen celebrates birthday on January 31 of every year.

COAF Annual Holiday Gala & Awards dinner has become a premier event in New York raising millions of dollars from a diverse and committed community. Their contributions have affected more than 75,000 people and these project are highlighted in a video entitled “A Formula to Eliminate Global Poverty.” A documentary charting COAF’s revitalization of rural Armenia was broadcast in 2009 involved a film crew spending extensive time on the ground capturing the effect of these comprehensive programs.