Aries Fund seeks to capitalize on bear market

Just when it seems that everyone wants to get out of biotech, along come the contrarians. Lindsay Rosenwald, who heads up The Castle Group and Paramount Capital, is starting The Aries Fund, a private investment trust that will focus on the investment opportunities presented by the bear market in biotechnology stocks.

The fund, which will seek money from both institutional and individual investors in the U.S. and abroad, will invest exclusively in biotech, Rosenwald told BioCentury. He has no set fund-raising target...