Combining science and business: from recombinant DNA to vaccines against hepatitis B virus

Our involvement in research on hepatitis B virus (HBV) really began at a Microbiology Conference in Geneva in February, 1978. For the small group of academics involved this was not at all the sort of conference to which we were accustomed. It was an intensive discussion, convened by Dr. Raymond Schaeffer and Mr. Dan Adams of the venture capital group of the International Nickel Company of Canada (INCO), of the prospects for formation of a European biotechnology company and a review of research projects and products that such a company might pursue. The role model was Genentech Inc., a company that had been formed two years previously and in which INCO had been a significant and well satisfied corporate investor. How about a European analogue? After two fascinating if rather surrealistic days we all agreed to take the matter further at a second meeting in Paris a few weeks later.