Lindsay Rosenwald
| Lindsay Rosenwald | |
|---|---|
| Personal details | |
| Alma mater | Pennsylvania State University, Temple University |
| Occupation | owner of Paramount Group of Companies |
| Profession | physician, investor in biotechnology sector |
Dr. Lindsay A. Rosenwald is a founder and chairman of Paramount Capital group of companies, which specializes in asset management, investment banking, venture capital and direct investing within the biotechnology and life-sciences industry.[1][2] Paramount Capital Asset Management, Inc. manages investor assets through domestic and offshore hedge funds, as well as private equity. Paramount Capital Inc., a Financial Industry Regulatory Authority (FINRA) member broker dealer, specializes in conducting private placement offerings for public and private development stage biotechnology companies. Paramount Capital Investments, LLC is a venture capital organization that takes a controlling interest in public and private companies, including start-ups and distressed turn-around companies. Paramount BioSciences [3] is an international pharmaceutical development firm and a healthcare investment bank. In addition, Dr. Rosenwald is a member of the Managing Member of Orion Biomedical Fund, LP and Orion Biomedical Offshore Fund, LP, both of which are participating in the Financing.[4] For over 20 years Dr. Rosenwald has been a Wall Street biotechnology entrepreneur founding and re-capitalizing dozens of public and private biotechnology and life-sciences companies. Paramount’s portfolio companies have already seen three new chemical entities approved by the U.S. Food and Drug Administration (FDA) and currently have dozens of compounds in clinical trials. One portfolio company, PolaRx BioPharmaceuticals, Inc., received final marketing approval for its leukemia drug, arsenic trioxide, only 30 months after the first patient was treated in a corporate clinical trial, a record in the industry.[5] In addition to Cougar Biotechnology, Dr. Rosenwald has financed or founded Cypress Bioscience, Inc., Bradley Pharmaceuticals, Inc., Genta, Inc, Repligen Corporation, Discovery Laboratories, Inc., Avigen, Inc., Indevus Pharmaceuticals, Inc., Cardiome Pharma Corp., Keryx Biopharmaceuticals, Inc., Neose Technologies Inc., Cell Therapeutics, Inc., Biocryst Pharmaceuticals, Inc and Hudson Health Sciences, Inc.
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[edit] Early life
Dr. 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, Dr. 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]
[edit] Career
In 1988 Dr. Lindsay A. Rosenwald became a managing director of corporate finance for D. H. Blair & Company, 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, Dr. 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 Dr. Rosenwald, managed the investments of several funds specializing in the technology and biotechnology sectors,[9][10][11] since 1994. Dr. 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, with $617,421,671. [14][15]
Since 2002, Dr. 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 Dr. 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, Dr. 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]
[edit] Publications
- Rosenwald, Lindsay MD (January 2010). Lessons from two decades of biotechnology investing. 1. 34–38. doi:10.1097/01.MNB.0000368467.22494.aa ].
[edit] References
- ^ 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
- ^ Cougar Biotechnology
- ^ Paramount Capital, Inc.
- ^ U.S. Securities and Exchange Commission Archives
- ^ Antman, K. H. (2001). "Introduction: The history of arsenic trioxide in cancer therapy". Oncologist 6(Suppl. 2) (1–2): 1–2. doi:10.1634/theoncologist.6-suppl_2-1. PMID 11331433.
- ^ The New York Times: Business People
- ^ Elizabeth M. Fowler (September 25, 1990). "Careers; Gaining New Perspectives On Medicine" (Press release). The New York Times. http://www.nytimes.com/1990/09/25/business/careers-gaining-new-perspectives-on-medicine.html?scp=5&sq=lindsay%20rosenwald&st=Search. Retrieved 2010-02-13.
- ^ Lawrence J. DeMaria (June 26, 1988). "INVESTING; A Doctor's Favorite Medical Start-Ups" (Press release). The New York Times. http://www.nytimes.com/1988/06/26/business/investing-a-doctor-s-favorite-medical-start-ups.html?pagewanted=1. Retrieved 2010-02-13.
- ^ 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 0875842232, 9780875842233.
- ^ US Securities and Exchange Commission
- ^ 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. http://www.observer.com/2009/real-estate/never-mind-100-m-doc-gets-75k-rent-15-cpw-duplex#.
- ^ Columbia UniversityCollege of Physicians & Surgeons
- ^ NewYork-Presbyterian HospitallAdvisory Councils
- ^ Brian O'Neill (Apr 21, 1999). "Biotechnology Bay State has share of `Molecular Millionaires'" (Press release). The Boston Globe. http://pqasb.pqarchiver.com/boston/access/40752915.html?FMT=ABS&date=Apr%2021,%201999. Retrieved 2010-02-08. "D.4"
- ^ Ronald Rosenberg, Globe Staff (Apr 9, 1997). "Molecular millionaires Interneuron executives top Massachusetts list" (Press release). The Boston Globe. http://pqasb.pqarchiver.com/boston/access/11413044.html?FMT=CITE&date=Apr%209,%201997. Retrieved 2010-02-08.
- ^ "People". Nature Biotechnology 24 (12): 1602. 2006. doi:10.1038/nbt1206-1602.
- ^ "OpusPoint Partners History". opuspointpartners.com. http://www.opuspointpartners.com/about_us_more.php?id_content=2&id=1. Retrieved 2011-06-13.
- ^ "National Holdings Corporation Completes Equity Financing Led By OpusPoint Partners; Parties To Enter Into Strategic Alliance". reuters.com. 6 Oct 2010. http://www.reuters.com/finance/stocks/NHLD.BE/key-developments/article/1992934. Retrieved 2011-06-13.
- ^ "Ventrus Biosciences Inc.". finance.yahoo.com. May 26, 2011. http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_V/threadview?m=tm&bn=120812&tid=108&mid=117&tof=8&off=1. Retrieved 2011-06-13.
