Paramount BioSciences, LLC, focuses on the development of promising in-licensed drug candidates. Founded in 1991 by Lindsay A. Rosenwald, M.D., Paramount is a unique drug development firm and life sciences merchant bank, having created approximately 40 start-up companies over the past fifteen years. Since its inception, Paramount and its affiliated companies have been involved in the clinical development of more than fifty drug candidates – several of which have reached the market- and have over thirty compounds in clinical development today. Paramount has extensive experience in all facets of the development of emerging life sciences companies and provides its portfolio companies a wide range of professional and financial support services.
Paramount’s startup companies are predicated on the continued clinical development of in-licensed compounds. For that reason, each product is developed with maximum attention and efficiency; no drug candidate is “shelved.” Arsenic Trioxide, a cancer drug in-licensed by one of Paramount’s portfolio companies. PolaRx Biopharmaceuticals, Inc., received final marketing approval within thirty months after the first patient was dosed in a company-sponsored clinical trial, a record in the industry at the time.
Once drug candidates are in-licensed, Paramount’s proven track record allows it to attract and recruit premium management personnel. Recent Paramount CEO hires include former senior executives of Johnson & Johnson, Biogen Idec, Amgen and Roche. Paramount seeks to provide its portfolio companies the highest level of support in all aspects of management and corporate development, including clinical development, regulatory, legal and financial matters. Paramount’s in-house team comprises more than fifty professionals on three continents, including MDs, PhDs, MBAs, attorneys, accountants and analysts, along with a worldwide network of consultants and industry experts comprised of the most respected thought leaders in the scientific and medical communities. This depth offers start-up companies access to hands-on expertise in the scientific and clinical development of lead compounds, enabling them to efficiently bring novel therapeutics to market.
Paramount dedicates its own capital to seed companies through formation, the in-licensing of drug candidates and the initial stages of product development. Through its NASD-registered broker-dealer affiliate, Paramount raises additional funds from institutional and high net-worth investors, typically taking its affiliated companies public and gaining them exposure to the investment community. Paramount’s experience in developing life sciences companies allows management to remain focused on the development of drug candidates rather than building infrastructure. Paramount believes that its model helps limit developmental delays occasioned by management distraction and facilitates management effectiveness.
Paramount seeks compounds that have demonstrated proof of concept in early stages of clinical development. Paramount also assesses various types of intellectual property, use patents, new indications and formulations for existing compounds.
