Many people would have felt discouraged to get back into a healthcare hedge fund after the experiences that Jake Gottlieb went through, but with his decades of experience, he knows that it’s his calling. He may still be busy closing up Visium, but he has already made a lot of headway with Altium. Altium is bringing together some familiar faces in healthcare investing such as Stuart Weisbrod, who worked with Jacob Gottlieb at Merlin BioMed Group. The 2 are seen as titans of the industry by many people and investors want to see what their new company will have to offer.
So far, things are already looking like Jacob Gottlieb’s new hedge fund has potential with a new way to take insulin by Oramed. Trying to create a way to make taking insulin by mouth viable has been attempted for years, but nobody has had much luck with it until Oramed. If their new capsule is approved, it may have the potential to help patients taking protein-based therapies for many different illnesses.
Since Visium made the decision to close down after a few employees were caught making insider trading deals, Jacob Gottlieb had been trying to figure out what his next move would be in his career. While he was understandably disheartened over the fate of his business that he had worked so hard to build, he knew that he couldn’t just give up on the investment world. Jake Gottlieb was found to have had no involvement with the incidents, but he went ahead and agreed to pay approximately $10 million to the Securities and Exchange Commission. Jacob Gottlieb volunteered to main his position of chief executive officer in order to finalize the business’ closing as well as returning any funds that were due to their investors.
Despite Jake Gottlieb and Weisbrod having pursued their own career paths for 20 years, the pair are excited about working together again in the same office. Merlin was co-founded by Weisbrod and other financial experts in 2998. The investment management company focused primarily on healthcare and had portfolios that included medical devices and pharmaceuticals.