Robert Duggan (venture capitalist)
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Robert Duggan | |
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| Born | Robert W. Duggan 1944 or 1945 (age 79–80)[1] |
| Nationality | American |
| Education | University of California, Santa Barbara (dropped out) University of California, Los Angeles (dropped out) |
| Occupation | Entrepreneur |
| Known for | World's richest Scientologist |
| Title | Former CEO of Pharmacyclics |
| Spouse | Patricia "Trish" Duggan |
| Children | 8 |
Robert W. Duggan (born 1944) is an American billionaire entrepreneur and investor. He is the former CEO of biopharmaceutical company Pharmacyclics[2] and was previously CEO of surgical systems maker Computer Motion from 1997 to 2003.[3]
Early life
Robert Duggan was born in San Jose, California, in 1944; the third of five children.[4] Duggan attended, but did not graduate from, the University of California, Santa Barbara and University of California, Los Angeles.[5][1]
Career
Sunset Designs
Duggan's first company, Sunset Designs, supplied Jiffy Stitchery kits to consumers - helping them create their own high-quality stitched projects at home[6]. He invested $100k in Sunset Designs and earned a $15m return on that investment.[7] More than 7,000 retail locations sold Jiffy Stitchery kits, giving the company an 80% market share.[8]
Computer Motion (Intuitive Surgical)
Computer Motion (now Intuitive Surgical) develops surgical robotics aimed at improving patients' experiences by reducing the degree of invasion during surgery.[9] The company worked to accomplish "patient and physician-friendly" robotic surgery - a term coined by Bob Duggan who led the company as Chairman from 1990 to 2003.[10]
Pharmacyclics
Pharmacyclics is a pharmaceutical company primarily focused on the development of cancer therapies[11]. From 2008 to 2015, Duggan was the largest investor in as well as chairman and CEO of Pharmacyclics.[12] Duggan received $3.5 billion from the sale of Pharmacyclics to AbbVie in "one of the biggest paydays ever from the buyout of a publicly held company."[13][14][15] As CEO and chairman of Pharmacyclics from 2008 to 2015, Duggan had opted not to receive compensation from the company.[16]
Pulse Biosciences
Since November 2017, Duggan has been chairman of Pulse Biosciences.[17] As of February 2017, he owned a 15.4% stake in the company.[18]
Summit Therapeutics
After having been a director since December 2019, in spring 2020 Duggan was appointed as CEO of Summit Therapeutics (a clinical-stage drug development company focused on new mechanism antibiotics).[19] He is the company's leading shareholder and will serve as CEO without compensation.[20] Summit is focused on developing ridinilazole, which is a potential new treatment for C. difficile.[21]
Personal life
Duggan is married, with eight children, and lives in Clearwater, Florida.[1] He met his future wife, Patricia J. "Trish" Hagerty, when both were students at UCSB.[22]
Duggan and his wife are members of the Church of Scientology. Duggan has been referred to as the church's "largest financial supporter" by former Scientology executive Mark Rathbun.[23]
References
- ^ a b c d "Forbes profile: Robert Duggan". Forbes. Retrieved 10 May 2020.
- ^ Sean Williams (27 February 2013). "This Is One Incredible CEO". fool.com.
- ^ "The $3.55 billion Man". America's Markets.
- ^ Cassell, Warren (3 Feb 2020). "How Robert Duggan Became a Billionaire". Investopedia. Retrieved 9 May 2020.
{{cite web}}: CS1 maint: url-status (link) - ^ George Thurlow (Summer 2015). "Everybody's a Genius". UC Santa Barbara Alumni Association.
- ^ "First Venture". Robert Duggan. Retrieved 18 May 2020.
{{cite web}}: CS1 maint: url-status (link) - ^ Varney, Amy (5 April 2019). "Bob Duggan". Oxstem. Retrieved 18 May 2020.
{{cite web}}: CS1 maint: url-status (link) - ^ "Robert Duggan". Robert Duggan. Retrieved 21 June 2020.
{{cite web}}: CS1 maint: url-status (link) - ^ "DaVinci by Intuitive". Intuitive. Retrieved 23 May 2020.
{{cite web}}: CS1 maint: url-status (link) - ^ "Bob Duggan". Robert Duggan. Retrieved 23 May 2020.
{{cite web}}: CS1 maint: url-status (link) - ^ "Pharmacyclics Stock Price, Forecast and News". Retrieved 23 May 2020.
{{cite web}}: CS1 maint: url-status (link) - ^ "Board of Directors - Pulse Biosciences". Pulse Biosciences. Retrieved 25 June 2020.
{{cite web}}: CS1 maint: url-status (link) - ^ Warren Cassell Jr. (28 December 2015). "How Robert Duggan Became a Billionaire". Investopedia. Retrieved 20 May 2016.
- ^ Antoine Gara. "Robert Duggan". Forbes.
- ^ "The Hiring Guru: Robert Duggan Billionaire". The Huffington Post.
- ^ Gary Strauss (March 24, 2015). "The $3.55 billion Man". USA Today. Retrieved May 29, 2015.
- ^ "Board of Directors - Pulse Biosciences". Pulse Biosciences. Retrieved 24 June 2020.
{{cite web}}: CS1 maint: url-status (link) - ^ "BRIEF-Robert Duggan reports 15.4 pct stake in Pulse Biosciences". Reuters. 21 February 2017. Retrieved 25 February 2017.
- ^ "Summit Appoints Robert W Duggan as Chief Executive Officer". Globe News Wire. 14 April 2020. Retrieved 25 June 2020.
{{cite web}}: CS1 maint: url-status (link) - ^ "Summit Appoints Robert W Duggan as Chief Executive Officer". Global News Wire. 14 April 2020. Retrieved 25 June 2020.
{{cite web}}: CS1 maint: url-status (link) - ^ "Summit Therapeutics gets US$50mln backing from biotech billionaire Bob Duggan". Proactive Investors. Retrieved 25 June 2020.
{{cite web}}: CS1 maint: url-status (link) - ^ "A perplexing tale about Bob Duggan, the richest Scientologist in the world « The Underground Bunker". tonyortega.org. Retrieved 25 March 2018.
- ^ Brendan Coffey (January 29, 2013). "Robert Duggan Scientology's biggest donor". SFGate.
External links
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