How Entrepreneur Jeff Aronin Approaches Treating Diseases

Jeff Aronin earned his bachelor’s degree at Northern Illinois University. Later on he attended DePaul University where he earned his masters of business administration. He founded his first company, Ovation Pharmaceuticals, in August 2000. He was this company’s president and chief executive officer. In 2009 he sold this company to Lundbeck, Inc. for $900 million and became that company’s president and CEO. Today he is the chairman and CEO of two firms, Paragon Pharmaceutical Capital and Paragon Bioscience, LLC.

At Paragon Pharmaceutical Capital, Jeff Aronin invests in life science companies around the world. He takes an active role in establishing these businesses and then managing them. Some of these companies are Harmony Biosciences and Castle Creek Pharmaceuticals. This former company works to provide cures for central nervous system disorders. At Paragon Biosciences the focus is on helping patients who are experiencing a debilitating disease. This company has acquired 13 drug approvals by the FDA. They research diseases for which there are presently no cures.

Jeff Aronin says the first step at Paragon Biosciences is to identify those diseases which are most in need of new treatment. His team this studies the underlying reason a disease exists and whether there are any new approaches to curing it that haven’t been tried before. If they come up with a novel approach to treating a disease they build a new company which focuses on just that disease and bring in the right personnel to carry on drug research for it.

When it comes to developing drugs for diseases it is a high risk/high reward type of deal. Most drugs never make it out of the research phase or during clinical trials they do no better than a placebo. By remaining focused on diseases which really need cures Jeff Aronin makes sure each drug they have under development will have great potential once it is on the market.

Jeff Aronin lives in the greater Chicago, Illinois area. He serves as a board member for a number of organizations in that area such as Discover Financial Services, the Economic Club of Chicago, and the Museum of Science and Industry.

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