Human Genome Sciences

In 1992, at the dawn of the genomic revolution, Human Genome Sciences (HGS) was founded by scientist Craig Venter and venture capitalists Alan Walton and Wally Steinberg. Their business was built on a simple, powerful idea: to use the sequence of human DNA to discover and develop new protein and antibody drugs. The company aimed to commercialize the findings of the ambitious Human Genome Project, which was concurrently mapping our genetic blueprint. A year later, in 1993, HGS secured a landmark $125 million investment from SmithKline Beecham, a major endorsement of its genomics-based approach. That same year, the company went public on the NASDAQ under the ticker HGSI, raising $27 million in its IPO. The strategy was to create a library of human genes and sell access to this data to pharmaceutical partners, while also developing its own therapies. After years of research, the company's persistence paid off. In collaboration with Cambridge Antibody Technology, HGS developed Benlysta, a groundbreaking treatment for lupus. This drug, which works by inhibiting a protein that contributes to the autoimmune disease, became the first new approved therapy for lupus in over 50 years when it received FDA approval in March 2011. The success of Benlysta made HGS an attractive target. In 2012, after an almost 20-year relationship, GlaxoSmithKline (formerly SmithKline Beecham) acquired Human Genome Sciences in a deal valued at approximately $3.6 billion, gaining full ownership of the promising drug and the company's research pipeline.