Hematology and oncology play Pharmion Corp. has set itself up as a specialty pharmaceutical company that does minimal R&D, instead in-licensing late stage products and leveraging its capabilities in managing regulatory affairs and in sales and marketing. Similar business models have proved difficult to execute, but with two regulatory submissions on the horizon, the company appears to have created a lot of believers, last week raising $65 million in a mezzanine financing led by Nomura International's Private Equity Group and 13 other investors (see B16).

"We have a core group of people with the skill set in place to effectively market and distribute hematology and oncology products," said President and CEO Patrick Mahaffy. Mahaffy, who co-founded Pharmion in January 2000 along with current COO Judith Hemberger, ran NeXstar Pharmaceuticals Inc. prior to selling the company to