RUSNANO is investing $ 380 million in medical technology
"RUSNANO" JSC and the Domain Associates company LLC are specializing in innovative projects in the field of medicine and bio-technology. They have created a joint project aimed at developing of the Russian market of health care.
Domain Associates within the RUSNANO Investment Agreement is planning to transfer modern medical technology and the creation of GMP production in Russia for the production of innovative drugs, including anticancer and antiviral agents, as well as drugs to treat cardiovascular diseases.
The total project budget is $ 760 million including co-financing in the amount of RUSNANO within 380 million of dollars. The parties are planning to invest in more than 20 U.S. biotech companies that are developing innovative tools in such areas as pharmaceuticals, biotechnology and medical devices. For the production purposes in Russia everything will be organized in accordance with the GMP-standards production.
Exclusive manufacture rights for selling these products in Russia and CIS countries will be transferred to a joint venture between RUSNANO and Domain Associates.
The project involves investing primarily in companies which products are found in the later stages of the study or during the registration process.
"Projects in the field of medicine make about 20% of the RUSNANO portfolio. We are actively working to create conditions for the development of innovative technologies in the medicine field in Russia. Our country must have the capacity to develop and produce cutting-edge medicine. I am absolutely sure that this project will make a significant contribution to the development of innovative components of the pharmaceutical industry in Russia ", - says RUSNANO CEO Anatoly Chubais.
"We are expecting that the cooperation with RUSNANO Domain will give significant impetus to the modernization of the Russian pharmaceutical industry and medical technology industry," - says Dovi Bryan a partner at Domain. "Taking into consideration our portfolio companies within a strategic collaboration which opens up new attractive opportunities for funding attract. Finally, we are very pleased with commercial potential which opens as a result of an advanced production site in Russia."
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