The Unlikely Path From Iranian Revolution To Billionaire Biotech CEO

Key Concepts

Self-Made Women: The Forbes list recognizing successful women who have built their wealth independently.
Bi-specific Antibody: A type of immunotherapy drug that targets cancer cells through two different mechanisms simultaneously.
Progression-Free Survival (PFS): The length of time during and after the treatment of a disease, such as cancer, that a patient lives with the disease but it does not get worse.
Robotic Surgery: Minimally invasive surgical procedures performed with the assistance of robotic systems.
Mergers and Acquisitions (M&A): The consolidation of companies or assets through various types of financial transactions.
Oncology: The branch of medicine that deals with the prevention, diagnosis, and treatment of cancer.
Immunotherapy: A type of cancer treatment that helps the immune system fight cancer.
Angiogenesis: The physiological process through which new blood vessels form from pre-existing vessels.
BTK Inhibitor: A drug that blocks the activity of Bruton's tyrosine kinase (BTK), an enzyme involved in B-cell signaling and important in certain types of blood cancers.

Early Life and Career Beginnings

Background: McKe Zangan was born in Iran during the Shah's regime, which she describes as a Western European-like country. The 1979 revolution drastically changed her life.
Impact of War: The Iran-Iraq war in the 1980s, with rockets reaching Tehran, led her family to seek refuge in Germany when she was around 11 years old.
Education in Germany and France: She attended school in Germany, learning German, and later moved to France for university at her parents' insistence, despite her acceptance into medical school in Germany.
Dentistry and MBA: Initially studied dentistry to appease her mother, who wanted her to have a more manageable profession than her sisters (cardiologist, gynecologist, endocrinologist). However, she found dentistry unfulfilling. She pursued an MBA at her father's condition to switch careers.
Computer Motion: Zangan's first job in the business world was with Computer Motion, a medical robotics company. She started in the training center in Strasbourg and quickly rose through the ranks.

Computer Motion and Robotic Surgery

Early Days of Robotics: Zangan emphasizes that robotic surgery was a novel concept in the late 1990s.
European and Middle Eastern Expansion: She was given responsibility for running Computer Motion's operations in Europe and the Middle East at the age of 27. Bob Duggan, then CEO of Computer Motion, told her "take a responsibility the capacity would follow."
Competition with Intuitive Surgical: Computer Motion and Intuitive Surgical were competitors in the robotic surgery market. Computer Motion was the first to bring robotic surgery to countries like Dubai, Saudi Arabia, and Egypt.
Merger with Intuitive Surgical: Computer Motion merged with Intuitive Surgical, with Computer Motion owning one-third of the combined company, which is now a $200 billion market. Zangan was initially sad about the merger but later recognized it as the best outcome for advancing robotic surgery.
Decision to Leave: After the merger, Zangan declined an offer to stay with Intuitive Surgical, feeling loyalty to Computer Motion's product.

Pharmasset and Cancer Drug Development

Investment Focus: After leaving Intuitive Surgical, Zangan worked with Bob Duggan on investments, focusing primarily on healthcare, including medical devices and drug development.
Pharmasset Investment: In 2008, they invested in Pharmasset, a company that Zangan later joined.
Embrua Development: The company focused on developing the drug Embraua (ibrutinib), a BTK inhibitor. The first human trial showed tumor shrinkage within three months, marking a significant milestone.
Collaboration with Johnson & Johnson: In 2011, Pharmasset collaborated with Johnson & Johnson for $975 million.
Acquisition by AbbVie: In 2014, Pharmasset was sold to AbbVie for $21 billion for half of the company. The motivation was to leverage AbbVie's marketing and distribution capabilities to reach more patients.

Personal Cancer Experience

Diagnosis: In October 2019, Zangan was diagnosed with stage two cancer. She underwent surgery and treatment, experiencing severe side effects.
Impact on Perspective: Her personal experience with cancer profoundly changed her perspective, giving her a deeper understanding of the patient experience.
Philosophy: Zangan adopted the philosophy of "fight till the end," believing that even a small chance of success is worth pursuing.

Summit Therapeutics

Joining Summit: In November 2020, Zangan joined Summit Therapeutics as COO, after Bob Duggan invested in the company and became CEO and chairman.
Shift to Oncology: The company shifted its focus from antibiotics to oncology, seeking late-stage solid tumor treatments.
Ivonimab Acquisition: Summit acquired the rights to ivonimab, a bi-specific antibody, from Akeso, a Chinese company, in a deal worth $5 billion.
Bi-Specific Antibody Mechanism: Ivonimab works through two mechanisms: stimulating the immune system to kill cancer cells and cutting off the blood supply to starve the cancer.
Clinical Trial Success: In clinical trials, ivonimab demonstrated a progression-free survival (PFS) of five months, outperforming Merck's Keytruda (pembrolizumab) in certain indications.
FDA Filing and Potential Approval: Summit plans to file for FDA approval for ivonimab, with potential market availability in late 2026.

Personal Wealth and Motivation

Billionaire Status: Zangan's success with Summit Therapeutics has made her a billionaire.
Driving Force: She emphasizes that her primary motivation is to help cancer patients and improve treatment outcomes, rather than solely focusing on financial gain.
Passion for Cancer Treatment: Zangan expresses concern about the increasing prevalence of cancer, even in younger individuals, and the challenges in treating various types of cancer.

Relationship with Bob Duggan

Marriage: Zangan and Bob Duggan, her co-CEO, married in December.
Working Relationship: They have a strong and compatible working relationship, both in business and in their personal life.

Conclusion

McKe Zangan's journey from Iran to becoming a billionaire biotech executive is marked by resilience, strategic decision-making, and a deep commitment to improving cancer treatment. Her experiences, both professional and personal, have shaped her perspective and driven her to pursue innovative solutions in oncology. Her story highlights the importance of taking responsibility, embracing challenges, and maintaining hope in the face of adversity.