Paramount BioCapital came into existence in the year 1991. The company was set up with the sole purpose of financially funding companies that would be involved in conducting research on newer drugs. These drugs would thence be of great medical importance and hence serve the purpose of curing people of their maladies. Dr. Lindsay Rosenwald was the founder of this company.
Dr. Lindsay Rosenwald had studied two varying fields with equal interest. He had graduated in medicine and also in finance. His acuity at seeing things as a doctor and as a financial analyst, helped him conceive the idea of Paramount BioCapital. Paramount BioCapital was actively involved in raising funds which was to be utilized in nurturing startup companies in the biotechnology and pharmaceuticals domain.
The Paramount BioSciences executive team is composed of professionals from various fields. It involves professionals from drug development, professionals from accounts, there is the presence of PhDs, MDs, attorneys, and so on. The expertise of these professionals ensured that the team is capable of helping the Paramount BioCapital funded company to manage the entire development cycle of the drug, right from formulation of the drug to its marketing.
Paramount BioCapital has raised almost a billion dollars for funding companies who would then be involved in drug research. Dr. Lindsay Rosenwald was again instrumental in starting the company Paramount BioSciences with the dedicated purpose of scouting for companies that is very much into drug research and hence funding the company financially and also backing the company with Paramount BioSciences Executive team.
Of the many companies that received such a backing through Paramount BioSciences was the company Polarx. Polarx eventually developed the drug Trisenox which was used to treat a type of rare leukemia known as acute promyelocytic leukemia. The drug was approved by FDA when the drug had completed just 30 months of clinical trials. Polarx was later acquired by Cell Therapeutics.
Numerous companies including Indevus Pharmaceuticals, Cougar Biotechnology, Enzymed Corp, Keryx Biopharmaceuticals, Javelin Pharmaceuticals, Polarx, etc. have seen support from Paramount BioSciences. The contributions of these companies have been quite large. Many of these companies were procured by larger pharmaceutical companies who were interested in the drugs that were in the trial stages in the respective companies.
It is Dr. Lindsay Rosenwald’s farsightedness that ensured that these companies became a reality and hence never remained just a dream. Dr. Rosenwald had majored in finance from the