Paramount Bio Sciences, LLC, a worldwide pharmaceutical growth and well being care funding firm, was based and managed by Dr. Lindsay A. Rosenwald in 1991. The corporate facilitates drug growth, scientific help and dedicates itself to discovering and growing novel therapeutic medicines with massive potential. By assessing promising drug candidates worldwide, Paramount has been in a position to create, nurture, and help greater than 40 life sciences firms, educational facilities, biotechnology and pharmaceutical corporations over the previous 19 years, together with 20 within the final 48 months. Present Portfolio Corporations have over 40 product candidates advancing by medical trials.
Distinctive method to bio tech funding
Enterprise and product growth are simply two items within the Paramount puzzle. An affiliate of Paramount Bio Sciences – Paramount Bio Capital, Inc., is a FINRA registered broker-dealer that, amongst different actions, raises capital for the Paramount Portfolio Corporations. It raised over $1 billion for the Portfolio Corporations; a number of occasions that quantity has been raised for Paramount Corporations by different entities. Whereas enterprise capital and personal fairness corporations are typically investment-oriented, Paramount’s bias is on the operational aspect. It establishes firms from the bottom up, utilizing its personal capital and ultimately funds raised from numerous personal and institutional traders by Paramount Bio Sciences and different banks and broker-dealers on Wall Avenue. Absolutely, Paramount’s expertise in finance and enterprise areas helps make the mannequin enticing to potential licensors and chief government officers.
With Paramount Capital largely dealing with accounting, monetary, market analytical and authorized capabilities, managers of its Portfolio Corporations can focus largely on driving drug candidates by the clinic and creating worth for shareholders, licensors and the affected person group.
Infrastructure and Firm Constructing at Paramount
Paramount consists of an in depth help infrastructure with expertise in licensing, medical growth, company operations, and navigating regulatory pathways. Each new portfolio firm at Paramount Bio Sciences is constructed round intriguing science and business potential. The Portfolio Corporations are operated by Paramount Capital by a devoted first-class administration on the firm degree, in addition to by enterprise and medical growth and operations specialists working for Paramount in New York. Chelsea Therapeutics, for instance, initially was created or based by Dr. Rosenwald round a novel anti-folate being developed for the therapy of inflammatory situations that included rheumatoid arthritis (RA) and psoriasis. Chelsea’s compound, CH-1504, has demonstrated superiority by way of each security and efficacy over Methotrexate, the present therapy commonplace for RA, which has been discovered to raise liver enzymes in lots of sufferers. Paramount Capital licensed this expertise from the College of South Alabama and assembled a world-class administration crew to assist optimize its formulation and advance the event of this and different compounds.
One other educational license from Paramount is a portfolio of natural arsenic trioxide compounds licensed from the MD Anderson Most cancers Heart. This FDA authorized compound progressed from IND to NDA in about 30 months and that is the quickest regulatory approval within the FDA historical past. Trisenox, an inorganic various of arsenic trioxide, which may product produces cardiac abnor¬malities at excessive doses. In contrast with the inorganic model, natural arsenic trioxide doesn’t present proof of those issues, even when used at doses 20 occasions increased than Trisenox. To leverage that benefit, Dr. Rosenwald based Ziopharm Oncology to advance this natural arsenic compound, ZIO-101, to deal with cancers, together with strong tumors, the place mega dosing has confirmed efficient. Ziopharm Oncology, as one in every of many Paramount’s portfolio firms, subsequently has in-licensed and is growing a number of different anti-cancer brokers.
One other Paramount portfolio firm, based and managed by Lindsay Rosenwald M.D., is Keryx Bio prescription drugs. It’s growing a compound referred to as Sulonex, which is an oral remedy for diabetic nephropathy. It was licensed from the Alfa Wassermann Group, a privately held pharmaceutical agency in Bologna, Italy. If authorized, Sulonex will likely be marketed to 15 million individuals recognized with Kind 2 diabetes in addition to the 1 to 2 million sufferers with Kind 1 diabetes.