Jeff Aronin, CEO and Chairman of Paragon Biosciences, was named the 2018 Innovator of the Year by Best in Biz. This award recognizes Aronin for his leadership in helping to develop treatments for severe medical conditions. The award also highlights the success of Paragon Biosciences and the importance of his vision. He and Paragon are playing a significant role in tackling complex healthcare challenges and helping to reduce the vast number of medical conditions that currently have inadequate treatment options.
How Aronin and Paragon Biosciences are Accelerating the Pace of Biopharmaceutical Innovation
Aronin, who has over 25 years of experience in the life sciences industry, has successfully led multiple biopharmaceutical companies to achieve therapy breakthroughs. In an interview with Insights Care Magazine, Aronin attributed his current company’s success to the innovative business model that Paragon uses to make life-altering treatments available to patients as quickly as possible. This begins by identifying a patient population with a high need for treatment but little-to-no available options. Paragon then establishes independent portfolio companies that each conduct research on a core therapeutic area. By recruiting top talent for each portfolio company’s initial management team and then providing strategic guidance and investment, Paragon Biosciences helps these portfolio companies catalyze much-needed medical therapies.
Jeff Aronin’s clinical and regulatory team guide portfolio companies on how to comply with Food and Drug Administration (FDA) guidelines so that patients with otherwise unmet medical needs receive the care that they require as quickly as possible.
Paragon Builds Portfolio Companies that Conduct Clinical Trials of Potential New Medicines
Paragon Biosciences has launched a diverse portfolio of companies that conduct clinical trials on potential treatments for rare and complex diseases. In 2018, Aronin’s Paragon Biosciences and financial partners committed $454 million to Paragon’s portfolio of companies to help facilitate the development of new medicines. Notably, the equity raised by Paragon for one of its portfolio companies was among the 10 largest private equity raises in the history of private U.S. biotech firms at the time. The confidence of investors is made possible due to the track record of Paragon’s team and Aronin’s entrepreneurial expertise in the biopharmaceutical industry.
Recognition for Aronin’s Innovative Business Model
Best in Biz named Jeff Aronin Innovator of the Year at the Gold Level. This is the organization’s highest honor. Throughout Aronin’s career, several other institutions have recognized him as well. Insights Care named him an extraordinary leader in healthcare, Weizmann granted him its Leadership Award, the Brain Research Foundation honored him with the Frederic A. Gibbs Discovery Award, and the Illinois Holocaust Museum & Education Center awarded him the Humanitarian Award, just to name a few.
Outside of his role with Paragon, Aronin spends his time mentoring aspiring entrepreneurs and young professionals, guest lecturing at the University of Chicago’s Booth School of Business and Northwestern University’s Kellogg School of Business. He supports a wide range of non-profit organizations as well. On the Aronin Family Foundation website, he makes his passion for education and healthcare clear. Also evident is his continued support for organizations that promote entrepreneurship, youth wellness, sports and achievements, the improvement of community parks, and various faith-based groups that encourage tolerance and understanding in their communities and at large.
When Best in Biz awarded Aronin Innovator of the Year, he shared a vision for himself and his company: “Paragon Biosciences is focused on solving for the critical medical needs that others won’t or can’t address. This recognition from Best in Biz helps build awareness of our collective mission to bring novel treatments and therapies to the patients who need them most.” Aronin and his team share this entrepreneurial and purpose-driven vision as they continue working toward developing treatments for under-served medical conditions.