In 2016, 3 executives from Jacob Gottlieb’s Visum Asset Management were accused of engaging in insider trading and other unscrupulous business practices. While Visium was forced to shut its doors, their founder Jacob Gottlieb was cleared of any involvement with the incidents that took place by his employees. The company cooperated with authorities and paid the fines that were levied in association with the charges. Jacob Gottlieb has maintained his position with Visium as the Chief Executive Officer and is working to finalize the ending of the business while returning any assets back to their former clients.
The duties that Jacob Gottlieb has at Visium are quickly coming to a close and he is involved with a new business venture. Named Altium Capital, Jacob Gottlieb will be working with Stuart Weisbrod. The 2 have a long history of success from almost 20 years ago working in the healthcare giant Merlin BioMed Group. Together they were able to grow their company by investing their portfolios into different areas of the medical industry such as biotech and pharmaceutical.
With Jacob Gottlieb’s history in the healthcare industry, things are looking pretty bright when it comes to the potential of the Altium hedge fund. One of the first major investments that Jacob Gottlieb and Altium were involved in is Oramed Pharmaceuticals Inc. This investment involved purchasing a considerable 5.61% stake in the company.
Altium and other investors participated in a direct offering that took place in July. Oramed was founded in 2006 and has created technology that has changed how medical treatments are administered for patients around the world. One of the main products that are offered by Oramed includes a revolutionary product for diabetes that allows patients to take their insulin in the form of a pill as opposed to a painful injection. By changing how insulin can be administered, the company will be able to make life easier for millions of patients living with the potentially debilitating disease.
Before Oramed created this technology it was impossible to take insulin orally as it did not remain viable after ingestion. The company that Jabob Gottlieb’s Altium invested in his still working on getting their product approved for use in the United States by the FDA, but other markets are fully supporting the product and the company.
They have already licensed the use of their capsule for $50 million to Hefei Tianhui Incubator of Technologies.