Editing Genentech (section)

==History==
The company was founded in 1976 by venture capitalist [[Robert A. Swanson]] and biochemist [[Herbert Boyer]].<ref name="Nature2003_01_23">{{Cite journal | last1 = Russo | first1 = E. | title = Special Report: The birth of biotechnology | doi = 10.1038/nj6921-456a | journal = Nature | volume = 421 | issue = 6921 | pages = 456–457 | year = 2003 | pmid =  12540923| bibcode = 2003Natur.421..456R | s2cid = 4357773 | doi-access = free }}</ref><ref name="Genentech_CorporateOverview">{{cite web|url=http://www.gene.com/gene/about/corporate/index.jsp?hl=en&q=genentech|title=Corporate Overview|author=Genentech|quote=Genentech was founded by venture capitalist Robert A. Swanson and biochemist Dr. Herbert W. Boyer. After a meeting in 1976, the two decided to start a biotechnology company, Genentech.  Although the two confidently assert that it was the first biotech company, others clearly came before, including [[Cetus Corporation]] which was founded in 1971.|url-status=dead|archive-url=https://web.archive.org/web/20120418082422/http://www.gene.com/gene/about/corporate/index.jsp?hl=en&q=genentech|archive-date=April 18, 2012}}</ref> Boyer is considered to be a pioneer in the field of [[recombinant DNA]] technology. In 1973, Boyer and his colleague [[Stanley Norman Cohen]] demonstrated that [[restriction enzyme]]s could be used as "scissors" to cut [[DNA]] fragments of interest from one source, to be ligated into a similarly cut [[plasmid vector]].<ref>{{Cite journal
 | last1 = Cohen | first1 = S.
 | last2 = Chang | first2 = A.
 | last3 = Boyer | first3 = H.
 | last4 = Helling | first4 = R.
 | title = Construction of biologically functional bacterial plasmids in vitro
 | journal = Proceedings of the National Academy of Sciences of the United States of America
 | volume = 70
 | issue = 11
 | pages = 3240–3244
 | year = 1973
 | pmid = 4594039
 | pmc = 427208
 | doi=10.1073/pnas.70.11.3240
| bibcode = 1973PNAS...70.3240C| doi-access = free
 }}</ref> While Cohen returned to the laboratory in academia, Swanson contacted Boyer to found the company.<ref name="Nature2003_01_23"/><ref>"In January 1976, 28-year-old venture capitalist Robert Swanson entered the picture. A successful [[Cold calling|cold-call]] to Boyer's lab led to a couple of beers—and an agreement to start a pharmaceutical company. Investing $500 each, they capitalized a new business, Genentech, to seek practical uses for Boyer and Cohen's engineered proteins. Swanson raised money for staff and labs..."{{cite web|url=https://www.pbs.org/wgbh/theymadeamerica/whomade/boyer_hi.html|title=Who made America? Herbert Boyer|publisher=[[Public Broadcasting Service|PBS]]|access-date=August 28, 2017|archive-url=https://web.archive.org/web/20120620215336/http://www.pbs.org/wgbh/theymadeamerica/whomade/boyer_hi.html|archive-date=June 20, 2012|url-status=live}}</ref> Boyer worked with [[Arthur Riggs (geneticist)|Arthur Riggs]] and [[Keiichi Itakura]] from the [[Beckman Research Institute]], and the group became the first to successfully [[gene expression|express]] a human [[gene]] in [[bacteria]] when they produced the [[hormone]] [[somatostatin]] in 1977.<ref>{{Cite journal 
| doi = 10.1126/science.412251 
| last1 = Itakura | first1 = K. 
| last2 = Hirose | first2 = T. 
| last3 = Crea | first3 = R. 
| last4 = Riggs | first4 = A. D. 
| last5 = Heyneker | first5 = H. L. 
| last6 = Bolivar | first6 = F. 
| last7 = Boyer | first7 = H. W. 
| title = Expression in Escherichia coli of a chemically synthesized gene for the hormone somatostatin 
| journal = Science 
| volume = 198 
| issue = 4321 
| pages = 1056–1063 
| year = 1977 
| pmid = 412251
| bibcode = 1977Sci...198.1056I}}</ref> [[David Goeddel]] and Dennis Kleid were then added to the group, and contributed to its success with synthetic human [[insulin]] in 1978.

In 1990 [[Hoffmann-La Roche|F. Hoffmann-La Roche AG]] acquired a majority stake in Genentech.<ref name=NYTroche>{{cite news|last1=Fisher|first1=Lawrence M.|title=Genentech: Survivor Strutting Its Stuff|url=https://www.nytimes.com/2000/10/01/business/genentech-survivor-strutting-its-stuff.html?pagewanted=all&_r=0|work=The New York Times|date=October 1, 2000|access-date=February 19, 2017|archive-url=https://web.archive.org/web/20170404185137/http://www.nytimes.com/2000/10/01/business/genentech-survivor-strutting-its-stuff.html?pagewanted=all&_r=0|archive-date=April 4, 2017|url-status=live}}</ref>

In 2006 Genentech acquired [[Tanox]] in its first acquisition deal. Tanox had started developing [[Xolair]] and development was completed in collaboration with Novartis and Genentech; the acquisition allowed Genentech to keep more of the revenue.<ref>{{cite news|title=Genentech strikes $919M deal to buy Tanox|url=http://www.fiercebiotech.com/biotech/genentech-strikes-919m-deal-to-buy-tanox|work=FierceBiotech|date=November 9, 2006|archive-url=https://web.archive.org/web/20170404155601/http://www.fiercebiotech.com/biotech/genentech-strikes-919m-deal-to-buy-tanox|archive-date=April 4, 2017|url-status=live}}</ref>

In March 2009, Roche fully acquired Genentech and made it a wholly-owned subsidiary by buying all remaining shares it did not already control for approximately $46.8 billion.<ref name=Morse_WSJ2006>{{cite news |last=Morse | first=Andrew | date=May 10, 2006 | title =Chugai Shares Post Healthy Gain On Prospects for Cancer Drug | work=The Wall Street Journal | access-date=September 26, 2008 | url = https://www.wsj.com/articles/SB114720225204948046?mod=googlenews_wsj}}</ref><ref name="Staff_GEN2008">{{cite news|author = Staff writers|date = July 21, 2008|issn = 1935-472X|access-date = September 26, 2008|title = Roche Makes $43.7B Bid for Genentech|work = [[Gen. Eng. Biotechnol. News|Genetic Engineering & Biotechnology News]]|url = http://www.genengnews.com/news/bnitem.aspx?name=39080941|archive-url = https://web.archive.org/web/20090203010727/http://www.genengnews.com/news/bnitem.aspx?name=39080941|archive-date = February 3, 2009|url-status = live}}</ref><ref>{{Cite news|last=Pollack|first=Andrew|url=https://www.nytimes.com/2009/03/13/business/worldbusiness/13drugs.html|title=Roche Agrees to Buy Genentech for $46.8 Billion|date=March 12, 2009|work=The New York Times|access-date=April 3, 2020|language=en-US|issn=0362-4331}}</ref>

In July 2014, Genentech/Roche acquired Seragon for its pipeline of small-molecule cancer drug candidates for $725 million cash upfront, with an additional $1 billion of payments dependent on successful development of products in Seragon's pipeline.<ref>{{cite news|author = Staff writers|date = July 2, 2014|access-date = July 2, 2014|title = Genentech acquires Seragon|work = [[Gen. Eng. Biotechnol. News|Genetic Engineering & Biotechnology News]]|url = http://www.genengnews.com/gen-news-highlights/genentech-acquires-seragon-for-up-to-1-725b/81250056|archive-url = https://web.archive.org/web/20140714133409/http://www.genengnews.com/gen-news-highlights/genentech-acquires-seragon-for-up-to-1-725b/81250056/|archive-date = July 14, 2014|url-status = live}}</ref>