Randal J. Kirk
Randal J. Kirk | |
|---|---|
| Born | March 1, 1954 Pleasanton, California, U.S. |
| Occupation(s) | Entrepreneur, investor |
| Years active | 1980–present |
| Known for | Chairman and CEO of Intrexon; founder of New River Pharmaceuticals; founder of Third Security |
Randal J. Kirk (born March 1, 1954) is a prominent American entrepreneur and investor with a focus on the pharmaceutical and biotechnology sectors. He held the roles of chairman and CEO at Intrexon (NYSE: XON), a biotech firm, until 2020. Although initially trained in law, Kirk is widely recognized for his strategic investments in pharmaceutical and biotech enterprises. He played a key role in orchestrating the sales of New River Pharmaceuticals and Clinical Data, established the investment company Third Security, and served on boards including that of Scios. As of May 2024, Forbes valued his net worth at approximately US$1.4 billion.
Early life and education
Born in Pleasanton, California, Randal J. Kirk is the son of a U.S. Air Force master sergeant. His family relocated from California to Texas before finally settling in Virginia and later Florida. He completed his secondary education at Pulaski High School located in Pulaski County, Virginia. After graduating, Kirk supported himself by selling automobiles and motorcycles while attending Radford University part-time for business studies. He earned a bachelor's degree in Economics from Radford in 1976 and subsequently obtained a Juris Doctor degree from the University of Virginia in 1979.
Career
Kirk was admitted to the legal bar in 1980, becoming the sole practicing lawyer in Bland, Virginia, where he maintained his practice until 1990. In 1983, he teamed up with pharmacist John Gregory to launch General Injectables and Vaccines, a pharmaceutical distribution company specializing in next-day delivery. This enterprise was sold to Henry Schein, Inc. for $65 million in 1998.
In 1996, Kirk established New River Pharmaceuticals and took on the roles of chairman and CEO. The company went public in 2004. New River developed Vyvanse, a medication targeting attention-deficit disorders, which led to Kirk’s most significant financial achievement when he sold New River to Shire in 2007 for $2.6 billion, personally earning over $1 billion from the transaction.
Kirk founded Third Security, LLC, a life sciences investment firm, in 1999 where he continues as senior managing director, CEO, and chairman. Between 2000 and 2002, he was a board member of Scios, Inc., a developer of heart disease treatments that was acquired by Johnson & Johnson for $2.4 billion. Additionally, he became majority shareholder and chairman of Clinical Data, Inc., which was purchased by Forest Laboratories for $1.2 billion following FDA approval of its drug Viibryd.
During the 2000s, Kirk became involved with biotechnology company Intrexon, assuming the chairmanship in 2008 and becoming CEO the following year. He led Intrexon’s public offering in 2013 when its market capitalization reached $2.5 billion. In early 2020, Intrexon rebranded as Precigen and redirected its focus toward human gene editing technologies; leadership transitioned to Precigen CEO Helen Sabzevari.
Intrexon divested its genetically engineered salmon business, AquaBounty, selling it to TS Aquaculture, LLC—a private entity managed by Third Security under Kirk’s leadership. Beyond AquaBounty, Kirk’s portfolio includes ventures developing genetically modified organisms such as disease-resistant mosquitoes and apples that do not brown upon exposure to air. His companies also work on innovative cancer therapies, biofuel alternatives to gasoline, crop protection solutions, and improved bovine genetics technologies.
Recognition
Kirk has been featured in publications such as SynBioBeta and Forbes. In 2008, he received the title of Virginia's Outstanding Industrialist of the Year, awarded by then-Governor Tim Kaine. His expertise has been showcased at numerous industry gatherings, including the SynBioBeta Conference, BioFlorida, Klick Ideas Exchange, and he was also a speaker at the Borlaug Dialogue during the World Food Prize event.
Philanthropy and other roles
Following the sale of General Injectables and Vaccines, Kirk contributed $1 million to Radford University, establishing the Zylphia Shu-En Kirk Endowment in honor of his daughter. He has held positions on both the Radford University Foundation board and its board of visitors, as well as serving on the University of Virginia board of visitors between 2009 and 2012.
As an independent politically, Kirk has made significant donations to candidates from both the Republican and Democratic parties. His involvement in Virginia politics includes contributions totaling $1.8 million to state-level campaigns, with $200,000 directed toward Terry McAuliffe's 2009 run for governor.
Personal life
Kirk lives in West Palm Beach, Florida and is a father to four children. According to Forbes, his net worth is estimated at $2.0 billion, placing him at number 1135 on their billionaire rankings. Among his personal interests is the practice of falconry.