Wall Street Transcript Interview (2018)
Biography (2011) LR Facts*, below.
For almost twenty years, Dr. Lindsay Rosenwald has been building a positive reputation within the biotechnology field. He has even been considered the most fruitful entrepreneur within the field. While looking at the facts one can easily see how he has gained such an honorable title. Since he became an entrepreneur he has founded over forty companies, in the pharmaceutical and biotechnology field. He has also raised almost one billion dollars to provide financial help to companies in the biotechnology field.
In 1991, Lindsay Rosenwald founded the Paramount Group of Companies. That year he formed Paramount Biocapital Inc. which was a company that helps finance new companies in the biotechnology field. It provides financing in several areas, including start up and developing products. By 1994, he was the Chairman of the Paramount Group. A year later, Biocapital began to provide merchant banking for the life sciences industry.
Since its inception, the Paramount Group has grown substantially. The largest companies that have been added in its list are Paramount Biosciences and Paramount Corporate Development. Paramount Biosciences is an investment company, and Paramount Corporate Development is a development company. The company specializes in corporate and drug development within the group’s portfolio companies.
Many companies Lindsay Rosenwald has founded through the Paramount Group have made a significant impact on the biotechnology field. Some of the companies he has found were immediately popular simply because they were formed. For example, he founded the first gene therapy company and cancer vaccine company that were traded publicly.
One of his portfolio companies also set the record for the fastest FDA approval time for a medicine in the United States. That product was Arsenic Trioxide, which was developed to treat Leukemia. It went through the FDA approval process in less than 30 months.
He also founded Cougar Biotechnology, which is the only company within the biotechnology field to be sold based on one product that had yet to complete the FDA approval process. In 2009, the company was bought by Johnson & Johnson for one billion dollars. The product they were so interested in was developed to treat prostate cancer.
There are several other companies he has founded that are making significant advancements. One of Cypress Biosciences’ products, Savella, was approved by the FDA to treat Fibromyalgia. This was an important achievement because millions of American citizens suffer from the painful condition. The same company also created a medical device called Prosorba Column that is used for moderate to severe Rheumatoid Arthritis.
Another company, Polarx, created Trisinox to treat acute Leukemia. Recently, Biocryst Pharmaceuticals’ product, Peramivir, was approved worldwide to treat the H1N1 strain of Influenza. Titan Pharmaceuticals received approval recently from the FDA for its product, Fanapt, which treats schizophrenia. One of his portfolio companies also developed an anti-obesity drug that is the first of its kind to be successfully created for the United States within the last thirty years. This is particularly important for the nation because obesity is an important health issue in the United States.
Not only has Lindsay Rosenwald founded many companies that are helping to better the lives of people, but he is also an active philanthropist. He is known to donate a lot starting from his own company. The Rosenwald Foundation takes a special interest in education, mainly in the science and medical fields. The foundation donates millions of dollars to many institutions that provide instruction in these two areas. Research within the two fields is also important to him, so the foundation donates to some educational research institutions as well.
Today he is the director of the Paramount Group. He is currently a director for several companies, both in the private and public sectors. These companies include Interneuron Pharmaceuticals, Inc., Keryx, Inc., and Neose Technologies, Inc. Lindsay Rosenwald is also a member of the board of directors for the Jewish Republican Coalition, and he sits on the Columbia-Presbyterian Health Sciences Advisory Council. The Jewish Republican Coalition aims to create a connection between the Republicans in office and the Jewish community within the United States. It is committed to giving a voice to those people who are within the Jewish community and are disconnected from politics. The Columbia-Presbyterian Health Sciences Advisory Council is the advisory council for the Columbia University College of Physicians & Surgeons. This council is responsible for making certain decisions within the college. With these associations he serves the biotechnology community and the greater community of people within the nation.
Over the years, Dr. Lindsay Rosenwald has helped many companies in the biotechnology field by providing financing for starting up and product development through Paramount Biocapital. He also directly helped many people as a general practitioner while he was active in private practice. For years he has been an important philanthropist and an active member within certain organizations. Today he continues to be prominent in the biotechnology field and is investing in various other companies in order to find ways to treat serious diseases and help people.
(*We’ve not checked for LR facts, facts!)
