Name Lindsay Rosenwald | ||
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Alma mater Pennsylvania State University, Temple University Occupation Owner of Paramount Group of Companies Profession Physician, investor in biotechnology sector Education Temple University School of Medicine, Pennsylvania State University, Temple University, Abington Senior High School | ||
Lindsay Rosenwald Paramount Group of Companies
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, and one of two co-founders and partners of Opus Point Partners, an asset management company that invests in the healthcare space, primarily in biotechnology. He has been a prolific founder of development stage biotech companies.
Contents
- Lindsay Rosenwald Paramount Group of Companies
- Lindsay rosenwald treatments for schizophrenia
- Early life
- Career
- References
Rosenwald has started many biotechnology companies who have over 100 licensed clinical-stage medicines. 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. Other drugs approved by the United States and many other countries include drugs for schizophrenia, fibromyalgia, obesity, influenza, and infant respiratory distress syndrome.
Lindsay rosenwald treatments for schizophrenia
Early life
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.
Career
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.
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, since 1994. Rosenwald also serves as a member of the Columbia-Presbyterian Health Sciences Advisory Counsel.
Lindsay A. Rosenwald was number one in the 2002 edition of Genetic Engineering News' 100 Molecular Millionaires. 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.
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. This company specializes in healthcare and life sciences investments and consulting. In October 2010, he invested in securities in National Holdings Corporation purchasing approximately 23.6% of NHC.