Lindsay Rosenwald

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Lindsay Rosenwald
Personal details
Alma mater Pennsylvania State University, Temple University
Occupation Owner of Paramount Group of Companies
Profession Physician, investor in biotechnology sector
Website http://www.lindsay-rosenwald-info.webs.com/

Lindsay A. Rosenwald is an American doctor and finance expert in asset management, investment banking, venture capital and direct investing within the biotechnology and life-sciences industry,[1][2] and one of two co-founders and partners of Opus Point Partners,[3] an asset management company that invests in the healthcare space, primarily in biotechnology. He has been a prolific founder of development stage biotech companies.

Rosenwald has started many biotechnology companies who have over 100 licensed clinical-stage medicines.[4] Many of those drugs were approved by the United States Food and Drug Administration as well as in foreign countries. One medicine was approved for Acute promyelocytic leukemia, a routinely fatal disease, that has cured many thousands of incurable patients over the last decade and continues that achievement today, marking a change to how this disease is treated. Another cancer drug developed by one of his start-up companies is today a near billion dollar-selling drug for prostate cancer. Additionally, that company was the first company to be acquired for approximately $1 billion after only phase 2 studies.[5] Other drugs approved by the United States and many other countries include drugs for schizophrenia, fibromyalgia, obesity, influenza, and infant respiratory distress syndrome.

Early life[edit]

Rosenwald graduated from Abington Senior High School, located in southeast Pennsylvania, in 1973, and went on to graduate from Pennsylvania State University with a major in Finance and Economy in 1977, graduating Beta Gamma Sigma. Then he worked as an independent management consultant for health care companies from 1977 to 1979 before entering Temple University at their School of Medicine. After graduating from Temple in 1983, Rosenwald took an internship at Abington Medical Hospital and remained in private medical practice until 1986. At that time, he moved to Wall Street to serve as a physician/financial analyst, a specialized combination of fields which very few boasted at that time.[6]

Career[edit]

In 1988 Lindsay A. Rosenwald became a managing director of corporate finance for D.H. Blair & Co., a privately owned investment firm. He headed a team of three physician-financiers who searched in the medical community for the latest developments that could be marketed with the help of private investment. They got in touch with hospitals, medical schools, pharmaceutical companies, universities, scientific firms and research groups.[7][8]

In 1991, Lindsay Rosenwald founded Paramount BioCapital, where he dealt with fields of bioresearch and biotechnology. Since 1992, he became a NASD-member dealer. In 1995 Paramount Capital Investments LLC, a merchant and investment bank, was founded. Paramount Capital Asset Management, Inc., owned by Rosenwald, managed the investments of several funds specializing in the technology and biotechnology sectors,[9][10][11] since 1994. Rosenwald also serves as a member of the Columbia-Presbyterian Health Sciences Advisory Counsel.[12][13]

Lindsay A. Rosenwald was number one in the 2002 edition of Genetic Engineering News' 100 Molecular Millionaires.[14][15] Since 2002, Rosenwald was in the board of directors for Keryx Biopharmaceuticals, Inc., which he resigned in 2006 to devote more time to the biotechnology market.[16]

Cougar Biotechnology, another company founded by Rosenwald, was purchased by Johnson & Johnson in 2009 based solely on abiraterone acetate. This drug was not yet in phase III clinical trials for its application in prostate cancer treatment and therapy, but was so promising that Johnson & Johnson bid & purchased the company in a "short-term merger" for approximately $1 billion.

In addition to his activities which have provided capital and funding to many portfolio companies, Rosenwald also started the Rosenwald Foundation, a nonprofit organization which has provided millions of dollars to support various scientific and medical education institutions.

In 2009, Lindsay A. Rosenwald and Michael S. Weiss founded a new company called OpusPoint Partners.[17] This company specializes in healthcare and life sciences investments and consulting.[18] In October 2010, he invested in securities in National Holdings Corporation purchasing approximately 23.6% of NHC.[19]

References[edit]

  1. ^ http://www.nytimes.com/2008/05/25/realestate/25deal2.html?_r=1&scp=3&sq=lindsay%20rosenwald&st=Search The New York Times: Great Views, Priceless
  2. ^ http://www.cougarbiotechnology.com/company/board-of-directors.htm Cougar Biotechnology
  3. ^ "OpusPoint Partners Team". OpusPoint Partners. Retrieved 4 February 2013. 
  4. ^ "Lindsay Rosenwald, Paramount BioSciences". Quora. Retrieved 4 February 2013. 
  5. ^ "J&J Buys Cougar Biotechnology to Add Cancer Drugs". Lisa Rapaport and David Olmos. Bloomberg. May 22, 2009. Retrieved 4 February 2013. 
  6. ^ The New York Times: Business People
  7. ^ Elizabeth M. Fowler (September 25, 1990). "Careers; Gaining New Perspectives On Medicine" (Press release). The New York Times. Retrieved 2010-02-13. 
  8. ^ Lawrence J. DeMaria (June 26, 1988). "INVESTING; A Doctor's Favorite Medical Start-Ups" (Press release). The New York Times. Retrieved 2010-02-13. 
  9. ^ Finance Club, Harvard University. Graduate School of Business Administration. Career Resources Center (August 28, 2008). Investment banking. Harvard Business School career guide. the University of California. Graduate School of Business Administration, Harvard University, 1990. pp. 35, 123. ISBN 978-0-87584-223-3. ISBN 0-87584-223-2. 
  10. ^ http://www.sec.gov/comments/s7-08-09/s70809-4614.pdf US Securities and Exchange Commission
  11. ^ Max Abelson (April 14, 2009). "Never Mind the $100 M.: Doc Gets $75K in Rent for 15 CPW Duplex" (Press release). The New York Observer. 
  12. ^ http://ps.cpmc.columbia.edu/annual/docs/annualreport01.pdf Columbia UniversityCollege of Physicians & Surgeons
  13. ^ http://nyp.org/pdf/2005-2006_3_facts_financials.pdf NewYork-Presbyterian HospitallAdvisory Councils
  14. ^ Brian O'Neill (Apr 21, 1999). "Biotechnology Bay State has share of `Molecular Millionaires'" (Press release). The Boston Globe. Retrieved 2010-02-08. "D.4" 
  15. ^ Ronald Rosenberg, Globe Staff (Apr 9, 1997). "Molecular millionaires Interneuron executives top Massachusetts list" (Press release). The Boston Globe. Retrieved 2010-02-08. 
  16. ^ "People". Nature Biotechnology 24 (12): 1602. 2006. doi:10.1038/nbt1206-1602. 
  17. ^ "OpusPoint Partners History". opuspointpartners.com. Retrieved 2011-06-13. 
  18. ^ "National Holdings Corporation Completes Equity Financing Led By OpusPoint Partners; Parties To Enter Into Strategic Alliance". reuters.com. 6 Oct 2010. Retrieved 2011-06-13. 
  19. ^ "Ventrus Biosciences Inc.". finance.yahoo.com. May 26, 2011. Retrieved 2011-06-13.