Paragon Biosciences, LLC, a Chicago, IL-based life science firm that invests in, builds, and advises bioscience companies, has formed Paragon Health Capital, LLC.
Led by Brian Friedman, CEO, Paragon Health Capital is a private equity firm that serves Paragon Biosciences’ portfolio of life science companies. It raises growth capital ranging from Series A to pre-IPO rounds of financing and provides portfolio companies with buy-side and sell-side M&A advisory services.
Since 2018, led by Chairman and CEO Jeff Aronin, Paragon Biosciences and its financial partners have invested and committed over $500 million to support seven portfolio companies in developing innovative therapies and diagnostic tools.
Continued rapid growth is anticipated, with plans to raise over half a billion dollars in the next year.
Paragon Health Capital was formed to serve the capital and M&A needs of Paragon’s portfolio companies.
Mr. Friedman previously served as managing director at First Analysis Securities Corporation leading the firm’s healthcare practice, where he completed transactions for numerous disruptive technology companies. Prior to joining First Analysis in 2010, Mr. Friedman was an executive vice president and co-head of investment banking at National Securities Corporation, where he managed more than 40 capital markets and M&A transactions in the healthcare and technology sectors.