Agenus CEO Dr. Garo Armen Honored with WITSA Eminent Person 2024 Award for Cancer Immunotherapy Breakthrough

Dr. Garo Armen, CEO and Chairman of Agenus Inc., Massachusetts-based leading immuno-oncology biotech, has been awarded the prestigious World Innovation, Technology and Services Alliance (WITSA) Eminent Person Award for his pioneering work in cancer immunotherapy. Dr. Garo Armen, whose leadership has steered Agenus to the forefront of cancer treatment, was honored during the World Congress on Innovation & Technology 2024.

This award, WITSA‘s highest recognition, has previously gone to global figures such as Nelson Mandela and internet pioneer Dr. Vint Cerf. It was established in 2010 to recognize individuals who have made a profound impact on the world, regardless of their industry. In this case, the accolade shines a light on a man whose scientific and humanitarian achievements have already touched countless lives.

“It is not only an honor for Dr. Garo Armen but a recognition of the global importance of the work being done at Agenus,” said Alexander Yesayan, Chairman of the Board of the Union of Advanced Technology Enterprises and CEO of Intent.ai, who nominated Garo Armen for the award. “This is a proud moment for everyone connected to Agenus, and it emphasizes the vital role science and technology play in transforming lives.”

Garo Armen’s Game-Changing Approach to Cancer Treatment

Under Dr. Garo Armen’s leadership, Agenus has been a leader in immuno-oncology, a cutting-edge field where the body’s immune system is harnessed to fight cancer. Agenus’ breakthrough cancer drug botensilimab, an anti-CTLA-4 antibody, has shown immense promise, particularly in treating “cold” tumors — cancers that have historically been resistant to immunotherapy. The botensilimab/balstilimab combination has attracted attention for its potential to tackle some of the hardest-to-treat cancers, offering new hope to patients where previous therapies have failed.

This promising combination was recently named one of the “10 most promising cancer drugs not yet approved” by OncoDaily. The recognition of this drug highlights the impact of Dr. Armen’s work and sets the stage for a new era in cancer treatment.

An Unconventional Path to Leadership

Dr. Garo Armen’s journey to becoming one of the foremost leaders in cancer research is anything but typical. His career began in the laboratory at Brookhaven National Laboratory before he transitioned to Wall Street, where he worked as an analyst and investment banker at EF Hutton and Dean Witter Reynolds (now Morgan Stanley). His ability to combine financial expertise with deep scientific knowledge has been a key driver of Agenus’ success.

Agenus, founded in 1994, has grown under his leadership into a key player in the fight against cancer, continuously advancing immunotherapy technologies and therapeutic products. In addition to his role at Agenus, Dr. Armen also restructured and revitalized Elan Corporation, once a struggling biopharmaceutical company, and today serves as Chairman of Protagenic Therapeutics, a biotechnology firm working on treatments for neurological and metabolic disorders.

“I believe this award is not just a recognition of me personally, but of the entire team at Agenus and the scientists working tirelessly to advance our understanding of cancer and how we treat it,” Dr. Armen said after accepting the award.

From Wall Street to Humanitarian Work

While Dr. Armen has been recognized for his scientific achievements, he is also a well-known philanthropist. As the founder and chairman of the Children of Armenia Foundation (COAF), Dr. Armen has dedicated much of his life to improving conditions for children in Armenia, providing education, healthcare, and infrastructure to communities in need. Under his leadership, COAF has transformed the lives of thousands of children, giving them opportunities that would otherwise have been beyond reach.

Dr. Armen’s dual roles as a biotech leader and humanitarian have made him a unique figure in both worlds, blending financial success with a deep commitment to improving human lives.

A Global Legacy

WITSA, an alliance of technology associations from 80 countries, created the Eminent Person Award to honor individuals who have had a significant positive impact on humanity. Since its founding in 1978, WITSA has sought to elevate voices in the tech industry who are making a difference on the global stage. While many past recipients have been recognized for their contributions to technology, Dr. Garo Armen’s work in immuno-oncology brings attention to a field where scientific innovation has the potential to save millions of lives.

Dr. Armen’s work with Agenus, particularly the development of the botensilimab/balstilimab combination, signals a new frontier in cancer treatment. His leadership continues to push the boundaries of science, giving patients and families new reasons for hope.

As he received the WITSA Eminent Person Award, Dr. Garo Armen reflected on the broader implications of his work: “It is our collective goal at Agenus to turn these scientific advances into tangible benefits for patients. We are not just talking about incremental improvements, but life-changing innovations.”

With a career that spans research, business, and philanthropy, Dr. Garo Armen’s story is one of vision, persistence, and an unwavering commitment to bettering the world. As cancer remains one of the leading causes of death globally, his work offers a path forward in the search for more effective treatments and cures. The recognition by WITSA serves as a reminder of what can be achieved when scientific innovation meets human compassion.