Lindsay Rosenwald

Last updated
Lindsay Rosenwald
Personal details
Alma mater Pennsylvania State University, Temple University
Occupation
  • Businessman
  • investor

Lindsay A. Rosenwald is an American doctor, biotechnology and life-sciences industry investor. [1] He is the co-founder of the healthcare private equity firm Opus Point Partners. [2] Rosenwald has created and sold several biotechnological companies and in 2013 established Fortress Biotech. [3]

Contents

Many of those drugs were approved by the United States Food and Drug Administration as well as in foreign countries like Mexico or Canada . One medicine was approved for Acute promyelocytic leukemia, a routinely fatal disease that has cured many thousands of incurable patients over the last decade, marking a change to how this disease is treated. Another cancer drug developed by one of his start-up companies today is a prostate cancer drug. Additionally, that company was the first company to acquire approximately $1 billion after phase 2 studies. [4] Other drugs approved by the United States and other countries include drugs for schizophrenia, fibromyalgia, obesity, influenza, and infant respiratory distress syndrome.

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 healthcare companies from 1977 to 1979 before entering Temple University at their School of Medicine. After graduating from Temple in 1983, Rosenwald interned 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 and financial analyst. [5]

Career

In 1988, Lindsay A. Rosenwald became a managing director of corporate finance for D.H. Blair & Co., a privately owned investment firm headed by J. Morton Davis. D.H. Blair underwrote hundreds of companies, many in the biotechnology industry. Several D.H. Blair brokers were indicted for fraud, and the firm was shut down. Rosenwald 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. [6] [7]

In 1991, Rosenwald founded Paramount Bio Capital, where he dealt with the fields of bioresearch and biotechnology. Since 1992, he has become 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 [8] [9] [10] since 1994. Rosenwald also serves as a member of the Columbia-Presbyterian Health Sciences Advisory Counsel. [11] [12]

Rosenwald was number one in the 2002 edition of Genetic Engineering News' 100 Molecular Millionaires. [13] [14] 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. [15]

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. This nonprofit organization has provided millions of dollars to support various scientific and medical education institutions.

In 2009, Rosenwald and Michael S. Weiss founded a new company called OpusPoint Partners. [16] This company specializes in healthcare and life sciences investments and consulting. [17] In October 2010, he invested in securities in National Holdings Corporation purchasing approximately 23.6% of NHC. [18]

Related Research Articles

<span class="mw-page-title-main">Healthcare in Iran</span>

For health issues in Iran see Health in Iran.

Corporate venture capital (CVC) is the investment of corporate funds directly in external startup companies. CVC is defined by the Business Dictionary as the "practice where a large firm takes an equity stake in a small but innovative or specialist firm, to which it may also provide management and marketing expertise; the objective is to gain a specific competitive advantage." Examples of CVCs include GV and Intel Capital.

Michelle Dipp is an American scientist, businesswoman, and investor. She is the co-founder and a managing partner at Biospring Partners and serves on the board of Abzena and Kiniciti.

<span class="mw-page-title-main">Mitchell J. Blutt</span> American physician

Mitchell J. Blutt is an American physician-businessman. He is one of the first physicians to play a prominent role on Wall Street by drawing on his medical training to identify investment potential in healthcare companies. He is the founder and CEO of the New York-based healthcare investment firm Consonance Capital and a former Executive Partner of J.P. Morgan Partners. He is also a Clinical Assistant Professor of Medicine in the Department of Medicine at Weill Cornell Medicine and the Graduate School of Medical Sciences of Cornell University.

<span class="mw-page-title-main">Ohio bioscience sector</span> Significant economic sector in the state

The Ohio bioscience sector strength was ranked #4 among USA states in 2008 by Business Facilities magazine.

OpusPoint Partners, LLC is an investment advisory firm specializing in healthcare and life sciences.

<span class="mw-page-title-main">Michael Jaharis</span>

Michael Jaharis was an American lawyer, businessman and philanthropist. He was the founder of Kos Pharmaceuticals and Vatera Healthcare Partners LLC, and co-founder of Arisaph Pharmaceuticals.

Arie S. Belldegrun, FACS, is an Israeli-American urologic oncologist, billionaire businessman and investor.

<span class="mw-page-title-main">Geoffrey von Maltzahn</span> American inventor

Geoffrey von Maltzahn is an American biological engineer and businessman in the biotechnology and life sciences industry who has founded a number of companies including Indigo Agriculture, Sana Biotechnology, Kaleido Biosciences, Seres Therapeutics, Axcella Health, Generate Biomedicines and Tessera Therapeutics. He has over 200 bioengineering and biotechnology patents and applications.

<span class="mw-page-title-main">Nancy T. Chang</span> Biochemist

Nancy Tang Chang, née Tang Nanshan, is a biochemist who cofounded Tanox in 1986 to address medical needs in the areas of allergy, asthma, inflammation and diseases affecting the human immune system. Tanox took an innovative approach in developing an asthma drug that focused on the allergy-related basis of asthma, Xolair. In June 2003, the U.S. Food and Drug Administration (FDA) approved Xolair, the first biotech product cleared for treating those with asthma related to allergies. Tanox was also active in the development of TNX-355, an antibody for the treatment of HIV/AIDS. In 2007, Tanox was sold to Genentech for $919 million. Dr. Chang grew Tanox from an idea to a substantial publicly traded company, doing innovative science. Following her success with Tanox, she has become an angel investor in health-care entrepreneurships and performs philanthropic work in community health-education projects.

Two River Group Holdings is a New York-based venture capital firm and merchant bank focused on the life science sector. It specializes in investments in life science, biotechnology, and in firms focused on developing preventive and therapeutic technologies for a broad spectrum of disease areas including oncology, cardiovascular disease, neurological disorders, and companion animal health care.

BioMotiv is an accelerator company associated with The Harrington Project, an initiative centered at University Hospitals of Cleveland. Therapeutic opportunities were identified through relationships with The Harrington Discovery Institute, university and research institutions, disease foundations, and industry sources. Once opportunities are identified, BioMotiv oversees the development, funding, active management, and partnering of the therapeutic products.

Human Longevity, Inc. is a San Diego-based venture launched by Craig Venter and Peter Diamandis in 2013. Its goal is to build the world's most comprehensive database on human genotypes and phenotypes, and then subject it to machine learning so that it can help develop new ways to fight diseases associated with aging. The company received US$80 million in investments in its Series A offering in summer 2014 and announced a further $220 million Series B investment offering in April 2016. It has made deals with drug companies Celgene and AstraZeneca to collaborate in its research.

<span class="mw-page-title-main">Henri Termeer</span>

Henri A. Termeer was a Dutch biotechnology executive and entrepreneur who is considered a pioneer in corporate strategy in the biotechnology industry for his tenure as CEO at Genzyme. Termeer created a business model adopted by many others in the biotech industry by garnering steep prices— mainly from insurers and government payers— for therapies for rare genetic disorders known as orphan diseases that mainly affect children. Genzyme uses biological processes to manufacture drugs that are not easily copied by generic-drug makers. The drugs are also protected by orphan drug acts in various countries which provides extensive protection from competition and ensures coverage by publicly funded insurers. As CEO of Genzyme from 1981 to 2011, he developed corporate strategies for growth including optimizing institutional embeddedness nurturing vast networks of influential groups and clusters: doctors, private equity, patient-groups, insurance, healthcare umbrella organizations, state and local government, and alumni. Termeer was "connected to 311 board members in 17 different organizations across 20 different industries" He has the legacy of being the "longest-serving CEO in the biotechnology industry.

<span class="mw-page-title-main">Fortress Biotech</span>

Fortress Biotech Inc., commonly known as Fortress Bio, is a biopharmaceutical company that acquires, develops, and commercializes innovative pharmaceutical and biotechnology products. Led by CEO Lindsay A. Rosenwald, M.D., Fortress and most of its subsidiary companies are headquartered in Bay Harbor Islands, Florida.

<span class="mw-page-title-main">David Lucchino</span>

David L. Lucchino is co-founder and chief executive officer of Frequency Therapeutics, a biotechnology company based in Lexington, MA.

Joseph Edelman is an American hedge fund manager who founded Perceptive Advisors, a New York City-based hedge fund specializing in the healthcare sector and biotechnology. He helped take biotech firms public via the use of special-purpose acquisition companies.

<span class="mw-page-title-main">Bharat Biotech</span> Indian multinational biotechnology company and vaccine manufacturer

Bharat Biotech International Limited (BBIL) is an Indian multinational biotechnology company based in Hyderabad, which is engaged in drug discovery, drug development, and the manufacture of vaccines, biotherapeutics, pharmaceuticals and healthcare products.

<span class="mw-page-title-main">OrbiMed</span> American investment firm

OrbiMed is an American investment firm based in New York City, United States. It is focused on making public and private investments in the Healthcare and Biotechnology industries. OrbiMed is considered one of the world's largest dedicated healthcare investment firms.

<span class="mw-page-title-main">Perceptive Advisors</span> Healthcare investment firm in New York

Perceptive Advisors ("Perceptive") is an American investment firm headquartered in New York City. It is focused on making public and private investments in the healthcare and biotechnology industries.

References

  1. ↑ Barbanel, Josh (2008-05-25). "Great Views, Priceless". The New York Times. ISSN   0362-4331 . Retrieved 2023-02-22.
  2. ↑ "OpusPoint Partners Team". OpusPoint Partners. Retrieved 4 February 2013.
  3. ↑ "Lindsay Rosenwald Is The Executive Chairman of Fortress Biotech, Inc. (NASDAQ:FBIO) And They Just Picked Up 18% More Shares". simplywall.st. 2023-02-16. Retrieved 2023-05-22.
  4. ↑ "J&J Buys Cougar Biotechnology to Add Cancer Drugs". Lisa Rapaport and David Olmos. Bloomberg. May 22, 2009. Retrieved 4 February 2013.
  5. ↑ The New York Times: Business People
  6. ↑ Elizabeth M. Fowler (September 25, 1990). "Careers; Gaining New Perspectives On Medicine". The New York Times (Press release). Retrieved 2010-02-13.
  7. ↑ Lawrence J. DeMaria (June 26, 1988). "INVESTING; A Doctor's Favorite Medical Start-Ups". The New York Times (Press release). Retrieved 2010-02-13.
  8. ↑ 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.{{cite book}}: |author= has generic name (help)
  9. ↑ https://www.sec.gov/comments/s7-08-09/s70809-4614.pdf US Securities and Exchange Commission
  10. ↑ 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. Archived from the original on April 17, 2009.
  11. ↑ http://ps.cpmc.columbia.edu/annual/docs/annualreport01.pdf%5B%5D Columbia UniversityCollege of Physicians & Surgeons
  12. ↑ http://nyp.org/pdf/2005-2006_3_facts_financials.pdf NewYork-Presbyterian HospitallAdvisory Councils
  13. ↑ 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
  14. ↑ Ronald Rosenberg, Globe Staff (Apr 9, 1997). "Molecular millionaires Interneuron executives top Massachusetts list" (Press release). The Boston Globe. Retrieved 2010-02-08.
  15. ↑ "People". Nature Biotechnology. 24 (12): 1602. 2006. doi: 10.1038/nbt1206-1602 . S2CID   216086354.
  16. ↑ "OpusPoint Partners History". opuspointpartners.com. Retrieved 2011-06-13.
  17. ↑ "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.
  18. ↑ "Ventrus Biosciences Inc". finance.yahoo.com. May 26, 2011. Retrieved 2011-06-13.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.