Isaac Blech
Private financier to the
biotechnology industry
Mr. Blech is among the most successful private financiers in the biotechnology industry. As a pioneer in the field, he financed seven companies, all of which were subsequently brought public. These companies include Celgene, the third largest independent biotechnology company, which is within the S&P 500 and currently has a market capitalization exceeding $25 billion.
Companies financed by Mr. Blech include: Genetic Systems, Icos, Nova Pharmaceuticals, PathoGenesis, Celgene, Texas Biotechnology and VaxGen. Of this group of seven public companies, four achieved market capitalizations in excess of $1 billion and the group of companies have achieved an aggregate market capitalization exceeding $30 billion. Four of these companies were formed collaboratively with Dr. Nowinski. Mr. Blech is the largest shareholder in ContraFect, holding in excess of 30% of the company's equity.
Mr. Blech earned a B.A. degree from Baruch College in 1975.
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Isaac Blech, Founding Shareholder of Celgene and Major Acquisitions by Eli Lilly, Bristol-Meyer and J&J Focused on BillMyParents(0)
Seeing what others see to make sense of upstart companies can be dizzying as opinions litter the airwaves like spider webs in the attic. Some people just have the “knack” and many that don’t simply coattail those that do. There are lists all over the web tracking holdings of the biggest names in the investment industry and millions of people simply “doing what they do.” Warren Buffett is a regular on financial shows and there probably isn’t one, single investor that doesn’t know about Jim Cramer and the massive cult-like following that he has. The acclaims of men like those just mentioned have opened the door of opportunity to meet other investors with a track record of success; providing the gurus leverage and an edge in making educated decisions about what developmental companies may lay claim to great successes in the future.
Isaac Blech, a Director of BillMyParents, Inc. (OTCBB:BMPI), is an investor that falls into the upper echelon of savvy, deep-pocketed businessmen that see the vision before it becomes reality and then shepherds a fledgling to phenomenal success. Quite simply, no flattery needs to be presented to explain Mr. Blech’s investment prowess as his track record speaks for itself. A recent article on BillMyParents (BMP) from Thomson Reuters’ Westlaw Business website details a few of Mr. Blech’s previous endeavors including:
• “Celgene Corporation – Mr. Blech was a founding shareholder of Celgene in 1986. Celgene has introduced two major cancer drugs and has a stock market valuation (as of March 8, 2011) of approximately $25 billion.
• ICOS Corporation – Mr. Blech was a founding shareholder and member of the Board of Directors of ICOS beginning in 1991. ICOS discovered the drug Cialis and was later acquired by Eli Lilly for over $2 billion.
• Nova Pharmaceutical Corporation – Mr. Blech was a founding shareholder and member of the Board of Directors of Nova from 1982 to 1990. Nova developed a treatment for brain cancer and subsequently merged with Scios Corporation which was later purchased for $2 billion by Johnson and Johnson.
• Pathogeneses Corporation – Mr. Blech was a founding shareholder and member of the Board of Directors of Pathogeneses from 1992 to 1997. Pathogeneses created TOBI for the treatment of cystic fibrosis and was later acquired by Chiron Corp for $660 million.
• Genetic Systems Corporation – Mr. Blech was a founding shareholder and member of the Board of Directors of GSC from 1981 to 1986. GSC developed the first inexpensive and accurate test to diagnose chlamydia and was later acquired by Bristol Myers for approximately $300 million.”
If you are wondering where Mr. Blech is planting more seeds, one of the answers is BillMyParents, Inc. Not only is he a Director, but also the largest shareholder with holdings in excess of 38 million shares, or 27.6 percent of the Company. Clearly, the man with a resume that reads like a “who’s who of acquisitions,” sees something in this new company focused on providing payment solutions targeted to teens, young adults and their parents.
Business appears to be starting to take flight for BMP as detailed in a recent press release stating that unique visitors to their website has surged more than 1,000 percent in June as compared to months earlier in the year. With a backbone of infrastructure supported by Isaac Blech, a man who might be flooded with a following if the general population simply knew who he is, as well as other highly-experienced executives, BillMyParents doesn’t appear to be missing a beat and could be stepping up to secure a lion’s share of an ever expanding prepaid debit card market.
BillMyParents, Inc. (BMPI) Stock Quote and News:
Medgenics (LON:MEDG) has strengthened its boardroom with the appointment of heavyweight biotech entrepreneur and investor Isaac Blech.
Blech, who is already a member of the company’s strategic advisory board, is a major investor in Medgenics, having ploughed $7 million into the company over the past year.
Blech, 61, is regarded as one of the most successful private financiers in the US biotechnology industry, founding seven companies, all of which were subsequently brought public.
They include Celgene Corporation, Genetic Systems Corporation, Icos Corporation, Nova Pharmaceuticals Corporation and PathoGenesis Corporation. These companies have been responsible for major advances in a number of diseases including the diagnosis and/or treatment of cancer, chlamydia, sexual dysfunction, cystic fibrosis and AIDS. Their combined value is now in excess of $30 billion.
Medgenics is developing and commercializing Biopump, a proprietary tissue-based platform technology for the sustained production and delivery of therapeutic proteins using the patient's own skin biopsy for the treatment of a range of chronic diseases including anaemia, hepatitis C and haemophilia.
The company believes its approach has multiple benefits compared with current treatments, which include regular and costly injections of therapeutic proteins. It currently has three long-acting protein therapy products in development based on this technology. They include Epodure, now completing a Phase I/II dosing trial, and Infradure, which is scheduled to begin a Phase I/II trial in Israel.
Welcoming Blech on board, Andrew Pearlman, chief executive of Medgenics said: “Isaac’s in-depth experience in biotechnology commercialization and his impressive professional network should be instrumental in helping us build Medgenics into a leading biotechnology company….”
Blech said: "Medgenics is demonstrating its ability to use a patient's own tissue to create Biopumps that, when inserted back into that patient, are designed to deliver sustained production of the desired protein. This is potentially a major scientific and medical breakthrough which has the ability to change the treatment paradigm across a range of chronic diseases. I am delighted to be working with the Medgenics team and look forward to guiding them in the successful clinical development and commercialization of this powerful technology."
Blech currently has a 17.1 percent stake in the company.
Earlier this year, Medgenics listed on the New York market in a move designed to take advantage of the greater appetite for and appreciation of biotechnology companies.
Its shares opened in London this morning on 185p, valuing the company at £5.43 million. The shares have been as high as 358 over the last 12 months
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