Rare disease specialist Insmed continues its rapid growth in New Jersey

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Insmed is a biopharmaceutical company that develops and commercializes medicines for serious and rare diseases, advancing a diverse portfolio of approved and mid- to late-stage drugs and cutting-edge drug discovery focused on meeting patients’ most urgent needs. Its most advanced programs are in pulmonary and inflammatory diseases, including a therapy approved in the United States, Europe and Japan to treat a chronic, debilitating lung disease.

The Bridgewater-based company is poised for even more in New Jersey.

In addition to its headquarters in Somerset County, Insmed also has offices and research locations around the world – including a separate research and development facility in Bridgewater. NJBIZ recently toured this facility to learn more.

The company is led by Will Lewis, who joined Insmed in 2012 after a stint in investment banking. Under his leadership, the company grew from a 30-person biotech company to an emerging global biopharmaceutical company with more than 1,200 employees and a market capitalization of nearly $13 billion.

In October, Insmed achieved the highest ranking in Science’s 2024 Top Employers Survey.

“It is a great honor to be named the No. 1 employer in Science’s annual survey for the fourth consecutive year,” Lewis said in an Oct. 24 statement. “The past year has been transformative for our company as we demonstrated the strength of our commercial and pipeline programs, continued to drive the innovation engine behind our early research, and strengthened our culture while growing to more than 1,200 employees .” the world. As I look to the future, I am filled with pride and excitement as I think about the talent, commitment and potential of our team as they strive to make a real difference to the lives of patients with serious illnesses.”

“The culture we have built at Insmed is unlike any I have ever experienced, and I am proud that it continues to grow and strengthen as our global team expands,” said Nicole Schaeffer, Chief People Strategy Officer at Insmed. “Thank you to our colleagues around the world who show up every day with a desire to help patients, enrich our communities and support one another. Thanks to you, we have once again been recognized by science as a top employer in the biopharma industry.”

In February, Lewis received his Ph.D. at BioNJ’s 31st Annual Dinner Meeting & Innovation Celebration. Sol J. Barer Award for Vision, Innovation and Leadership.

“Often referred to as one of the most humble people in the industry, it is my great pleasure to present this year’s award to a truly great human being – an individual who embodies vision, innovation and leadership through tireless advocacy for patients, the healthcare system and New Jersey life sciences ecosystem,” said Barer, former chairman and CEO of Celegene Corp. and CEO of Teva Pharmaceutical Industries as he presented his namesake award.

“When I came here, it struck me that previous recipients, even up to your time, have literally changed the lives or saved the lives of thousands, if not millions, of patients,” Lewis said. “This is a remarkable achievement. It’s a daunting thing to receive this award – and I think I could spend the rest of my career trying to earn this award, so thank you very much.

The greatest companies are founded in the most difficult times.
– Will LewisCEO of Insmed

“For those of you in the room who are trying to build businesses, I’ve been coming to this event for a long time,” Lewis said. “I previously worked at another company that struggled for many years and failed to go public three times before finally achieving success. I joined Insmed 11 years ago when the company still had no enterprise value. Wall Street said we weren’t worth anything. This may sound familiar to some of you who are currently trying to build businesses and run them during the worst market correction in several decades. My message to you is: Hold on, your time will come. You can do this.”

Lewis noted that BioNJ and the participants in the room were there to help entrepreneurs build companies.

“The greatest companies are founded in the most difficult times. And that means there are a lot of great companies being created right now, including yours,” Lewis explained.

Preserve corporate culture

NJBIZ recently caught up with Insmed’s CEO to discuss the latest events and milestones at the company, the future and much more.

The conversation began with Lewis praising his team’s efforts and passion. He explained the importance of culture and collaboration at Insmed, which was clearly evident during NJBIZ’s visit to the research and development facility.

“Honestly, it’s what I’m most proud of in the company,” he said of a recent town hall meeting. “We’ve gone from 30 people when I joined to 1,200 – and we’ll go to 1,700 at the end of next year. Actually, the biggest question people ask is: How do we preserve our culture? Because as we’ve gone down this path, we’ve kind of maintained that commitment – everyone in this industry says they care about the patient. But when you walk into a company, it takes about five minutes to know: Is this authentic? Is the screen showing the CNBC channel bigger than the one talking about what the drug might do? You get the signals pretty quickly.

“We want people to bring their authentic selves to work – to feel like they are in a place where they can do their best work,” he continued. “And we always tell people, the mantra you should have in your head is: How can I help? And if we can get that done, then you really don’t have to manage anyone.”

Lewis spoke about his unique and personal journey into this role – from foreign service to investment banking and this sector. “A member of my family died of a rare disease – and that really sparked my interest in the possibilities of biotechnology,” Lewis explained of his older brother. “His life was literally preserved much longer than it otherwise would have been. I always think about that. When you talk about commitment to the patient and all those things – and you run a company. And people are wondering: How quickly does this get damaged?

“It always brings it back to the personal for me – and I think for a lot of people,” Lewis continued. “If you work in healthcare, really look at yourself in the mirror and ask yourself: What am I going to do today and why? And no matter how big or successful the company becomes, you have to remember that you will generate the revenue if the drug makes a difference in the lives of the patient – and the people around them who experience it. Then the share price will rise. It’s a derivative – it’s not the driver.

What’s next for Insmed?

Lewis was asked to describe some of the products and areas the company is focused on.

“In my opinion it did the trick and I worked as a banker to support this industry and at the same time as an operator within this industry,” Lewis said. “It comes from both sides of this experience. The most important thing you can do is prove that you can develop a drug and ultimately get it approved – and brought to market. So, Insmed’s first identification is the creation, development, approval and market launch of a drug called ARIKAYCE. It treats a respiratory disease. And with this success we were then able to integrate further development programs.

“The second development program was amazingly successful – and that put us on a lot of people’s maps after what happened this year when the Phase III data, the final trial, showed positive results,” Lewis continued. “Imagine we take a single drug on this long journey, and when it looks like we’re having success, we add a few others. And now they seem to be successful.”

Despite all these positive developments and continued momentum, Lewis believes that Insmed is still at the beginning of its journey.

“As much as we have changed and as much as we have grown, we are literally just beginning to become the next great biotech company,” Lewis said. “And we have everything we need for this, starting with the people – coupled with these products. This is a truly rare moment in biotech development when a company has truly important, impactful products aligned with good people. And watch out, it just blows up like an Elon Musk rocket.”