Alfred E. Mann
Mann, December 2010
|Born||1925/1926 (age 89–90)
|Residence||Las Vegas, Nevada|
|Education||B.A. and M.S. (UCLA)|
|Occupation||entrepreneur and philanthropist|
|Net worth||US $ 1.5 billion (December 2015)|
|Spouse(s)||--Beverly Mann (divorced, 3 children)
--Second spouse (divorced, 3 children)
--Susan Mann (divorced)
--Claude Mann (1 adopted daughter Cassandra Mann)
Early life and education
Mann was born and raised to a Jewish family in Portland, Oregon. His father was a grocer who emigrated from England; his mother a pianist and singer who immigrated from Poland. His brother is violinist and Juilliard Quartet founding member Robert Mann. In 1946, he moved to Los Angeles, California.
Mann received his B.S. and M.S. in physics from the University of California, Los Angeles, doing graduate work in nuclear and mathematical physics. Mann holds honorary doctorate degrees from the University of Southern California, The Johns Hopkins University, Western University of Health Sciences, and the Technion – Israel Institute of Technology.
In 1956, Mann founded Spectrolab, the first of his aerospace companies. While at Spectrolab, an electrooptical systems company, he also founded Heliotek, a semiconductor company, that became a major supplier of solar cells for spacecraft. Among other accomplishments during his tenure, Mann's companies provided the electric power for over 100 spacecraft and constructed one of the lunar experiments. Although he sold both companies to Textron in 1960 (merged into one, Spectrolab is now a subsidiary of Boeing Satellite Systems), he continued to manage them until 1972. After he left those companies to found Pacesetter Systems, which focused on cardiac pacemakers, he sold that company in 1985 and managed it until 1992. It is now a part of St. Jude Medical. Mann then went on to establish MiniMed (insulin pumps and continuous glucose devices, now owned by Medtronic) and Advanced Bionics (neuroprosthetics), which was owned by Boston Scientific from 2004-2008. Boston Scientific and the Advanced Bionics management had agreed to split the company. Under this split, Boston Scientific would own the pain management and other neural stimulation portions and Advanced Bionics would focus on developing, manufacturing and distributing cochlear implants for the restoration of hearing to the deaf.
He is currently involved in several companies, including:
- founder and Chairman of Second Sight Medical Products, a biomed company which produces the Argus retinal prosthesis;
- founder and Chairman of Bioness, a company devoted to applying electrostimulation[disambiguation needed] for functional neural defects such as paralysis;
- founder and Chairman of the Board of Quallion, LLC, a company producing high reliability batteries for medical products and for the military and aerospace industries;
- Chairman of Stellar Microelectronics, an electronic circuit manufacturer for the medical, military and aerospace industries;
- Mann also chairs the Southern California Biomedical Council (SCBC or SoCalBio), a trade association that represents and promotes the growth of the life-science community in the Greater Los Angeles region (see: http://www.socalbio.org).'
In June 2014, the US Food and Drug Administration approved MannKind Corporation's application for a unique inhalable insulin (Afrezza) for the treatment of diabetes. Mannkind subsequently licensed the device to a French pharmaceutical company, Sanofi, for US$925 million. Mann is Chairman of the Board of MannKind Corporation, a biomedical company, where he also served as Chief Executive Officer until January 12, 2015. In November 2015, Hakan Edstrom stepped down as CEO and president and will remain until July, 2017 to provide other services for the company. Mann again stepped in as interim CEO.
Mann also served on the Board of Directors and was the largest investor in Eclipse Aviation
Mann has so far established Alfred E. Mann Institutes for Biomedical Engineering at the University of Southern California (USC), known as AMI/USC ($162 million); at Purdue University known as AMI/Purdue ($100 million); and at the Technion known as AMIT ($104 million) are business incubators for medical device development in preparation for commercialization. The Institutes are essentially fully funded. Three other universities were in late stage discussions as of 2006. AMI was founded in 1998 when Alfred Mann made his first $100 million gift to USC, a major private research university in Los Angeles. The total gifted endowment for AMI/USC is $162 million since then.
The Alfred Mann Foundation for Biomedical Engineering is charged with selecting, establishing and overseeing the institutes, similar to AMI at USC and at other research universities.
Founded in 1985, the Alfred Mann Foundation has several core aims. It aims to work with scientists and research organizations to find bionic solutions for people suffering from debilitating medical impairments
As an alumnus of UCLA, he tried to make a substantial monetary gift to his alma mater to fund a bioengineering institute. However, the donation failed over Mr. Mann's desire to retain control over patents and patent revenues generated by the institute. The $162 million gift eventually went to USC, a private institution that agreed to his terms.
On March 16, 2007 Purdue University received a $100 million endowment from the Mann Foundation for Biomedical Engineering. The endowment is the largest research gift ever at the university and created the Alfred Mann Institute at Purdue. However, AMI Purdue was closed and the $100 million endowment from the MANN Foundation was rescinded in early 2012. Reasons for the withdrawal of the endowment at the end of the 5-year trial period centered on a lack of appropriate management of technology resources by members of Purdue AMI and Purdue Research Foundation and a lack of production of quality projects.
Mann has been married four times and has seven children. He divorced his first wife Beverly, with whom he had three sons, in 1957. Mann had three more children with his second wife, whom he divorced in 1973. He divorced his third wife, Susan, in 1997. He is currently married to Claude Mann and adopted her daughter Cassandra Mann. Claude was born in montpellier France and moved to the US in 1973. Her father was a diplomat and active in the French Resistance and had been sent to a concentration camp for hiding Jews from Nazi soldiers.
- "The World's Billionaires: #721 Alfred Mann". Forbes. March 3, 2010.
- Forbes: "The World's Billionaires - Alfred Mann March 2014
- Jerusalem Post: "Alfred Mann to double $100 million Technion donation" By GALI WEINREB June 4, 2011
- Los Angeles Times: "How I Made It: Alfred Mann, entrepreneur and philanthropist" By Duke Helfand October 09, 2011
- "Sanofi to Pay MannKind Up to $925m for Inhaled Insulin," by Simeon Bennett, Bloomberg News, Aug 11, 2014
- Calia, Michael (January 12, 2015). "MannKind Appoints Edstrom CEO as Mann Steps Aside". Wall Street Journal. Retrieved January 13, 2014.
- "Mannkind CEO steps down". NewsTimes.com. 23 November 2015.
- Board of Trustees, University of Southern California, Accessed April 13, 2008.
- Forbes.com: "$100 Million, Anyone?" by David Whelan October 09, 2006
- Alfred E. Mann Foundation for Biomedical Engineering: "Alfred Mann Institute For Biomedical Development at the Technion - Israel Institute of Technology (AMIT) Opens Doors of the $100 Million Institute" July 18, 2007 | The motivation behind opening an institute within Israel came from Mann's wife, Claude Mann. Claude, who is not Jewish, has had a strong connection to the Jewish faith. Her father was active in the French Resistance during World War II and was sent to a concentration camp for hiding Jews from Nazi soldiers.