Inventor of Immunex, founder of the Children of Armenia Fund (COAF)
Garo H. Armen is an American-Armenian scientist. He is the founder and chairman of the Children of Armenia Fund (COAF), as well as co-founder and CEO of Agenus, Inc.
Biography
An ethnic Armenian, Armen was born in Istanbul, Turkey, in 1953, and immigrated to the United States as a teenager to attend university, eventually earning his PhD in physical chemistry from the City University of New York.
Armen’s journey into drug development began when his mother died from breast cancer in 1973. The two shared a one-room Brooklyn apartment where Armen administered her morphine shots until she died. In 1994, Armen was approached by Pramod Srivastava, then a biochemist at Mount Sinai School of Medicine, about the possibility of developing Oncophage from a clinical and commercial perspective. The treatment involved removing a patient’s tumor cells, isolating and fortifying the cellular proteins that normally alert the immune system to disease, and re-injecting the proteins into the patient. In 1994, Armen co-founded Antigenics with Srivastava.
One night in 1978, in the middle of the energy crisis, Armen was driving home when he stopped at a 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. » Soon enough, virtually every gas pump in America was replaced – and Armen had made $20,000. His interest in business was piqued, and had already paid off.
Career
After earning his PhD, Armen worked as a research associate at the Brookhaven National Laboratory and taught as an associate professor at the Merchant Marine Academy. He then served as an analyst and investment banker, focusing on chemical and pharmaceutical industries, first at E.F. Hutton, then at Dean Witter Reynolds (now Morgan Stanley).
In 1993, Armen had a leading role in the creation of Immunex. From 1994 to 2006, Armen served on the board of directors at Elan, an Irish pharmaceutical firm; as chairman, he is widely credited with rescuing the company from financial ruin. Currently, he serves as Executive Chairman at Protagenic Therapeutics.
In 1994, Armen co-founded Agenus, Inc (formerly Antigenics), a biotechnology company focused on personalized medicine in immune-oncology. He currently serves as the CEO, and as the Chairman for MiNK Therapeutics, a subsidiary company.
Humanitarian work
Armen is also the founder and chairman of the Children of Armenia Fund, established in 2004. The NGO empowers rural Armenians through initiatives focused on education, healthcare, social advancement, and economic development. As of 2022, COAF has brought resources to 107,239+ Armenians across 63 rural communities.
The Children of Armenia Fund (COAF) is a non-profit organization dedicated to advancing educational opportunities and building infrastructure for children and families across rural Armenia. A central tenet of COAF’s mission is the organization’s focus on creating lasting change. COAF disrupts outdated systems of rural education and empowers communities with purpose and longevity. To date, COAF programs have operated in 82 villages across 6 regions, as well as Artsakh, and have impacted over 100,000 beneficiaries through improved education, healthcare, and economic development.
Supporters
COAF has partnered with the government of Armenia, the British Council, the EU, the UNDP, the World Bank, and embassies from across the world.
COAF’s supports include Jennifer Aniston, Cher, Leonardo DiCaprio, Ariana Grande, Tom Hanks, Chris Rock, and a variety of Armenian celebrities.
Honors
In 2002, Ernst & Young recognized him as the NYC Biotechnology Entrepreneur of the Year.
In 2004, Armen became a recipient of the prestigious Ellis Island Medal of Honor for his humanitarian efforts in Armenia as well as his exceptional contributions to American society.
In 2007 he was awarded the Honorary Medal by the Prime Minister of Armenia.
He is also the recipient of the Golden Medal, awarded by the Armavir provincial governor for his investments in the region.
In 2013 Dr. Garo Armen has been awarded the Mkhitar Heratsi Medal by the President of Armenia.
In 2016, the Immigrant Learning Center in Malden, MA named Armen an Immigrant Entrepreneur of the Year.
