In 1976, Boyer was contacted by venture capitalist Robert Swanson who had heard about his work with Cohen and after a series of informal meetings, they agreed to start a pharmaceutical company. A year later the company produced the first human hormone (somatostatin) in a microbe (E. coli). The following year, Genentech produced the first synthetic insulin using his new transgenic bacteria, and in 1979 human growth hormone was cloned by the company's scientists.
Genentech's first product was chemically synthesized genes for human insulin. It wasn’t long before the company became extremely successful, and its research continued to make a huge impact in the lives of patients. In 1985, the company made available a second drug made with recombinant DNA, human growth hormone. Its research continues to this day, having also spurred the growth of thousands of biotechnology companies along the way and instigating breakthrough treatments for countless diseases. It has also made Herb Boyer a very rich man. According to 'Time' magazine, he was biotech's first ever multimillionaire.