Arie S. Belldegrun (; born 1949) is an Israeli-American urologic oncologist, billionaire businessman and investor.
Early life and education
Belldegrun was born in Tel Aviv, Israel. He received his medical degree from the Hadassah Medical Center at Hebrew University of Jerusalem in 1974, and conducted his post-graduate studies at the Weizmann Institute of Science in 1979."Curriculum Vitae", InfoFAQ, July 2007. Retrieved on 22 June 2013. He completed his urologic surgery residency at Harvard Medical School in 1985, and his Surgical Oncology fellowship at the National Cancer Institute in 1988. He is certified by the American Board of Urology, and is a fellow of the American College of Surgeons and the American Association of Genitourinary Surgeons."Dr. Arie S. Belldegrun, MD, FACS Joins Two River Group Holdings as Chairman and Partner". Reuters. 29 April 2008. Retrieved 25 June 2013."Arie Belldegrun, MD" , UCLA Health. Retrieved on 25 June 2013. Belldegrun is the director of the UCLA Institute of Urologic Oncology, professor of urology, and chief of the Division of Urologic Oncology at the David Geffen School of Medicine."Arie Belldegrun, M.D.", David Geffen School of Medicine. Retrieved on 25 June 2013."Arie Belldegrun, M.D.", USRF. Retrieved on 23 June 2013."Advisory Board", Penn LSM. Retrieved on 28 August 2013.
Career
In 1996, Belldegrun established his first company, Agensys, which was an early-stage privately held biotechnology company based in Los Angeles. The company was focused on the development of fully human monoclonal antibodies to treat solid tumor cancers in a variety of cancer targets. He served as its founding chairman of the board of directors from 1996 to 2002, and then as a director."Arie Belldegrun, M.D. ". Vagelos Program in Life Sciences & Management. Retrieved 29 November 2020. In December 2007, Agensys was acquired by Astellas Pharma in a deal valued at US$537 million.Moster, Roxanne & Champeau, Rachel (27 November 2007). "UCLA scientists' biotech firm to be acquired by pharmaceutical corp." . UCLA Newsroom. Retrieved 25 June 2013."Board of Directors" , Nile Therapeutics. Retrieved on 25 June 2013.
In 2003, Belldegrun became the founding vice-chairman of the board of directors and chairman of the scientific advisory board of Cougar Biotechnology; the company had a focus in the field of oncology. In July 2009, Cougar Biotechnology was acquired by Johnson & Johnson in a $970 million transaction. In April 2011, the United States Food and Drug Administration approved abiraterone acetate (Zytiga), Cougar's lead product, for late-stage prostate cancer."Johnson & Johnson Completes Acquisition of Cougar Biotechnology" . Cougar Biotechnology. 10 July 2009. Retrieved 25 June 2013."Board of Directors", Arno Therapeutics. Retrieved on 25 June 2013.
In 2008, Belldegrun became the chairman and partner of Two River, a New York-based venture capital firm and merchant bank focused on the life science sector. Two River specializes in investments in life science, biotechnology, and in firms focused on developing preventative and therapeutic technologies for a broad spectrum of disease areas including oncology, cardiovascular disease, neurological disorders, and companion animal health care."Company Overview of Two River Group Holdings, LLC", Businessweek. Retrieved on 26 June 2013.
Belldegrun is the founder, chairman, president and CEO of Kite Pharma. Founded in 2009, the company went public in June 2014. Based in Santa Monica, Kite Pharma is a commercial-stage biopharmaceutical company engaged in the development of novel cancer immunotherapy products with a primary focus on engineered autologous T cell therapy (eACT) designed to restore the immune system's ability to recognize and eradicate tumors."About Kite Pharma" . Kite Pharma. Retrieved 21 January 2015. On August 28, 2017, Gilead Sciences announced that it would acquire Kite Pharma for $11.9 billion in an all-cash deal,Reuters equating to $180 cash per share. The deal added a CAR-T candidate to Gilead's existing portfolio. The acquisition was completed in October 2017. In October 2017, Kite Pharma's therapy, Yescarta (axicabtagene ciloleucel) became the first CAR-T therapy approved by the FDA for the treatment of adult patients with relapsed or refractory large B-cell lymphoma after two or more lines of systemic therapy."Kite's Yescarta™ (Axicabtagene Ciloleucel) Becomes First CAR T Therapy Approved by the FDA for the Treatment of Adult Patients With Relapsed or Refractory Large B-Cell Lymphoma After Two or More Lines of Systemic Therapy". Gilead. 18 October 2017. Retrieved 24 December 2017.
In 2017, Belldegrun became the co-founder and senior managing director of Vida Ventures, a Boston-based life sciences investment firm that consists of scientists, physicians, entrepreneurs, and investors passionate about building and funding breakthroughs in biomedicine. Vida Ventures has a bicoastal presence.Stendahl, Max (15 December 2017). "Vida Ventures, Boston's newest healthcare VC firm, unveils $255M fund". Boston Business Journal. Retrieved 24 December 2017.Densford, Fink (18 December 2017). "Boston VC firm Vida Ventures unveils $255m healthcare fund". Mass Device. Retrieved 24 December 2017."Vida Ventures Unveils Next-Generation Life Sciences Venture Firm with $295 Million Under Management and an Investment in Allogene Therapeutics". BusinessWire. 3 April 2018. Retrieved 3 April 2018. In June 2021, Vida Ventures closed its third fund (Vida Ventures III) with $825 million. Vida Ventures currently has approximately $1.7 billion in assets under management."Life sciences venture capital firm Vida Ventures raises $825 million". Reuters. 24 June 2021. Retrieved 26 October 2021.
In 2017, Belldegrun co-founded and serves as the executive chairman of Allogene Therapeutics, a San Francisco-based biotechnology company. Allogene has raised $300 in Series A fundraising, and $120 million in a private financing round.Herper, Matthew (3 April 2018). "They're Back! After Selling Kite, Belldegrun And Chang Seek To Change Cancer Treatment Again". Forbes. Retrieved on 3 April 2018.Carroll, John (3 April 2018). "Arie Belldegrun raises $300M, grabs Pfizer's allogeneic CAR-T portfolio and launches a groundbreaking drive to commercialization". Endpoint News. Retrieved on 3 April 2018.Taylor, Phil (6 September 2018). "Allogene raises another $120M for off-the-shelf CAR-T programs". FierceBiotech. Retrieved 12 October 2018. On October 11, 2018, Allogene Therapeutics raised $324 million in an initial public offering on the NASDAQ, listing under the ticker "ALLO".Nisen, Max (11 October 2018). "Allogene's Monster Biotech IPO Defies Market Rout". Bloomberg. Retrieved 12 October 2018.Mukherjee, Sy (11 October 2018). "Why Cancer Biotech Allogene Just Scored an Eye Popping $324 Million IPO" Fortune. Retrieved 12 October 2018.
In July 2019, it was reported that Bellco Capital, Belldegrun's family office, has entered into a joint venture with Tishman Speyer to start Breakthrough Properties. Belldegrun serves as the co-chairman, while his son, Dan, is the company's CEO. The company purchased its first property in Boston's Seaport District for $80 million.McDonald, Michael & Katz, Lily (16 July 2019). "Doctor Who Sold $12 Billion Drug Firm Eyes Biotech Property". Bloomberg. Retrieved 16 July 2019."Tishman Speyer and Bellco Capital Launch Breakthrough Properties, a First-of-Its-Kind Global Life Sciences Real Estate Platform". BusinessWire. 16 July 2019. Retrieved 16 July 2019. In November 2020, Breakthrough Properties closed its first fund (Breakthrough Life Science Property Fund) with $1 billion."Breakthrough Properties Raises $1 Billion for Life Science Real Estate Investments". PR Newswire. 23 November 2020. Retrieved 29 November 2020.
In May 2021, it was reported that Belldegrun's Bellco Capital is co-sponsoring the $2.5 billion merger of Ginkgo Bioworks with Soaring Eagle Acquisition Corp. (a SPAC), with a pre-money valuation of $15 billion.Feldman, Amy & Knapp, Alex. "Ginkgo Bioworks To Go Public In $17.5 Billion Deal With Former Hollywood Exec Harry Sloan's SPAC". Forbes. 11 May 2021. Retrieved 26 October 2021.Paul Taylor, Nick. "Ginkgo lands on NYSE via SPAC merger, gaining $2.5B to fuel growth". FierceBiotech. 11 May 2021. Retrieved 26 October 2021. Ginkgo Bioworks is now trading on the NYSE under the ticker "DNA". Belldegrun serves on the board of directors of Ginkgo Bioworks.
In 2014, according to the Bloomberg Pay Index, Belldegrun was ranked the 8th highest-paid executive in the United States, with a pay package valued at $95.2 million.Melin, Anders & Chen, Caroline (11 June 2015). "Biotech CEOs among highest-paid US execs". Telegram.com. Retrieved 7 July 2015. In 2015, The Hollywood Reporter's annual Hollywood's Top Doctors list included Belldegrun as one of the highest-rated urologists."Hollywood's Top Doctors 2015: Best Urologists in Los Angeles". The Hollywood Reporter. 27 August 2015. Retrieved 15 June 2018.
In 2021, in its annual ranking of the wealthiest people in Israel, Forbes Israel ranked Arie and Rebecka Belldegrun 36th with a personal net worth of $1.75 billion."עשירי ישראל 2021" (in Hebrew). Forbes. 25 July 2021. Retrieved 26 October 2021. They have donated over $1 million to the University of Pennsylvania School of Arts and Sciences,"$1M Lifetime Donors to the School of Arts and Sciences". University of Pennsylvania. 30 June 2012. Retrieved 17 June 2016. and have donated a $5 million sculpture to LACMA."Smoke | LACMA Collections". LACMA. Retrieved 17 June 2016."Tony Smith's monumental sculpture 'Smoke' will not disappear from LACMA; multimillion-dollar purchase finalized". Los Angeles Times. 18 June 2010. Retrieved 17 June 2016.
Belldegrun was featured in the 2017–2021 editions of the LA500-LA's Most Influential People, compiled by the Los Angeles Business Journal,"LA 500: Arie Belldegrun". Los Angeles Business Journal. 31 May 2021. Retrieved 26 October 2021. and has been named Business Leader of the Year for 2018 in the Health Care category for a life dedicated to finding cures for cancer.Lawrence, Carol (23 March 2018). "Laurels for Leaders: Aecom Boss Burke Highlights Class of Annual Honorees". Los Angeles Business Journal. Retrieved on 3 April 2018. In June 2018, Belldegrun received the EY Master Entrepreneur Award at the Entrepreneur of the Year 2018 Awards."UroGen Pharma's Chairman, Arie Belldegrun, MD, FACS to Receive EY 2018 Master Entrepreneur Award". GlobeNewswire. 13 June 2018. Retrieved 15 June 2018.
Belldegrun has written over 500 scientific publications related to urologic oncology and has authored several books on prostate and kidney cancers."Nile Therapeutics Appoints Arie S. Belldegrun, M.D., to Board of Directors". Reuters. Retrieved 13 November 2013."US HIFU Appoints Arie Belldegrun, M.D. to Board of Directors". Reuters. Retrieved 13 November 2013. He was one of the speakers at the Milken Institute Global Conference 2013,"Global Conference 2013" . Milken Institute. Retrieved 13 November 2013. delivered the keynote Andrew C. Novick Memorial Lecture at the Ninth International Kidney Cancer Symposium,"Medical Symposia Keynote Addresses" . Kidney Cancer Association. Retrieved 13 November 2013. and regularly presents at the Annual J.P. Morgan Healthcare Conference."Kite Pharma to Present at the 32nd Annual J.P. Morgan Healthcare Conference". BizJournals (Charlotte). 7 January 2014. Retrieved 26 May 2014. It was announced that Belldegrun will present at the 34th Annual J.P. Morgan Healthcare Conference in January 2016."Kite Pharma to Present at the 34th Annual J.P. Morgan Healthcare Conference". NASDAQ. 6 January 2016. Retrieved 6 January 2016.