Growing up in the Chinese industrial city of Wuxi, Wei-Wu He never actually liked biology. It required too much memorization, he says. Yet somehow his mother, an organic chemist, persuaded him to pursue the science of life.
"My mother convinced me that the life sciences were the next frontier of scientific discovery and innovation," He (pronounced "Huh") remembers. "She said biochemistry was where the future was headed. At that point I didn't know any better, so I decided to study biochemistry."
The decision has made all the difference for the 35-year-old biologist-turned-businessman. This year, He and his partner, Bill Snider, launched Maryland's first venture-capital firm focused on the burgeoning field of genomics, the systematic study of genes. Many scientists and investors believe genomics will lead to a windfall of new drugs, diagnostic tests and treatments for disease.
In a year when scientists finished the monumental task of mapping the complete set of human genes, He and Snyder's five-employee Bethesda outfit, Emerging Technology Partners LLC, is positioning itself to ride the next wave in genomics. In September they closed their first $40 million fund, called the Genomic Fund, with a cash infusion from Friedman, Billings, Ramsey Group Inc., an Arlington investment-banking firm.
So far they have invested in six Maryland biotechnology companies, including Aptus Genomics Inc., Psychiatric Genomics Inc., Avalon Pharmaceuticals Inc. and Informax Inc., a Rockville biological software maker that went public in October. This week the firm closed deals with Fasgen Inc., a Baltimore start-up researching genes related to obesity, and Clarus Technologies Inc., a Rockville firm that licenses promising biological technologies.
Until recently, Maryland's biotech entrepreneurs had to travel to other technology centers such as Silicon Valley or Boston in search of funding. By setting up shop in Bethesda, Emerging Technology Partners hopes to fill that need, and profit from it.
Wei-Wu He's journey to the leading edge of Maryland's biotech industry began in Wuxi, a bustling city of 4 million on the banks of China's Yangtze River, where he was born in 1965. At only 16, his exceptional scores on college entrance exams allowed him to enroll at Nanjing University, one of China's top schools. Following his mother's advice, he majored in biochemistry and soon decided to study abroad.
"One professor kept telling me, 'If you really want to do research, you have to go to the United States because that's where the action is,' " He recalls.
He began to study English in earnest, practicing often with American exchange students. Then he took an exam that earned him a spot in a U.S. government program that brought 50 of China's top biology students to study at American universities.
In 1986, he started a doctoral program in molecular biology at Baylor College of Medicine in Houston, eventually finishing his degree at the Mayo Clinic in Rochester, Minn. It was there that he cloned his first gene, a difficult feat that involves isolating an individual gene in the human genetic code, making lots of copies and figuring out its function. It was the first of a long string of genes he would clone.
A two-year stint at Harvard Medical School led to He's introduction to Bill Haseltine, a Harvard professor and leading AIDS researcher who was starting a new company called Human Genome Sciences Inc., which aimed to "industrialize" the process of finding human genes.
"I'm a risk taker," said He, who figured if the venture didn't work out, he could still find an academic job. "I love cloning genes. Human Genome Sciences offered the possibility of cloning genes on a grand scale. I thought it was pretty exciting."
In late 1992, He accepted Haseltine's offer, moved to Maryland and became one of Human Genome Sciences' first employees. After four years, He decided to leave the successful Rockville firm to launch OriGene Technologies Inc., a company that makes tools for gene research.
While running OriGene, he enrolled in a weekend MBA program at the University of Pennsylvania's Wharton School in Philadelphia. At the business school he met Bill Snider, 31, another Wharton MBA student, who managed mutual funds at Baltimore's T. Rowe Price Associates Inc.
He got the inspiration for his latest foray at OriGene, where, like other high-tech entrepreneurs, he was always looking for capital.
"Anytime we looked for money, we had to travel to California or Boston," He says. "Maryland is the capital of genomics, but there's not a venture fund focused on genomics and biotechnology companies located here."
At a time when both their wives were pregnant, He and Snyder decided to quit their jobs and invest their life savings into Emerging Technology Partners, launched in April in a cramped, windowless office in Bethesda.
As the race to decode the individual genes of the human genome moves forward, He remains bullish about the opportunities.
"There are still hundreds of genes with huge commercial implications," says He, who likens the race to discover new genes to the Gold Rush of the 1800s. "The challenge is to find out what every single gene is doing in the body."
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