Entrepreneur Jacob Gottlieb Establishes His Newest Company, Altium Capital
Jacob Gottlieb and Stuart Weisbrod are two New York City entrepreneurs in the financial industry. They used to work together 20 years ago at an investment company co-founded by Stuart Weisbrod called Merlin BioMed Group. They are teaming up once again at a new investment company, Altium Capital. The focus of this company, like their past ones, will be on companies in the healthcare industry such as pharmaceutical companies, biotech firms, and medical device manufacturers.
Merlin BioMed Group was a very successful company. It was founded in 1998 and in the next two years it achieved returns over 100 percent. Jacob Gottlieb and the other portfolio managers at this company were able to bring in investors such as major pension funds, endowments, and very high net worth individuals. Unfortunately, this company had to shut down in 2007.
After Merline BioMed Group shut down both Jacob Gottlieb and Stuart Weisbrod went their separate ways, although both continued to invest in healthcare firms. Stuart Weisbrod started another investment firm, Iguana Healthcare Partners. Meanwhile, Jacob Gottlieb established his own company, Visium Asset Management. He started this company with an initial capital amount of $300 million in 2007. By 2016 he was managing an $8 billion hedge fund and had offices in New York City, San Francisco, and overseas in London.
It was in 2016 that Visium Asset Management blew up. Three senior executives had been investigated by the FBI and the SEC which resulted in their being charged with insider trading and mismarking. A little bit later a fourth executive was charged as well. As the chief executive officer of this company, Jacob Gottlieb was also investigated but he was cleared of any wrongdoing. The consequence of this, though, was that he had to shut this firm down and return money to investors.
At Altium Capital, Jacob Gottlieb’s first move was to invest in Oramed Pharmaceuticals, Inc. He purchased a 5.61 percent stake in this firm which has as its flagship product an oral insulin capsule for diabetics. This replaces the need for them to inject insulin. It has been approved for use in China and they are seeking the approval of the US’s FDA.