Immunex

In 1981, at the dawn of the biotechnology boom, scientists Steven Gillis and Christopher Henney, along with businessman Stephen Duzan, founded Immunex in Seattle. Their mission was to harness the power of the immune system to create new therapies. The company went public in 1983, raising capital to fuel its ambitious research endeavors. A major breakthrough came in 1991 when the FDA approved their drug Leukine, used to help bone marrow transplant patients. This success put Immunex on the map. The company's journey took a significant turn in 1993 when it merged with American Cyanamid's oncology division, a move designed to pair Immunex's research prowess with an established marketing force. However, the company's defining moment was the development of Enbrel, a revolutionary treatment for rheumatoid arthritis approved in 1998. The massive success of Enbrel made Immunex a prime target. In a landmark deal for the biotech industry, Amgen announced its acquisition of Immunex in December 2001 for $16 billion. The acquisition, completed in 2002, combined two of the leading biotechnology pioneers and created a powerhouse in the biopharmaceutical world.