Rusnano’s portfolio company NovaMedica is commissioning a research and development (R&D) laboratory center where new drugs will be developed, the company announced on November 27, 2016.
The new laboratories have been built under a project to set up a technological cluster for the development and pilot production of innovative drugs. Investment in the project totaled USD15 million.
“The first research project will get started at the NovaMedica technological center in December 2016. By 2022, we plan to fill about 20 percent of the Russian market of contract technological pharmaceutical projects,” the company’s managing director Alexander Kuzin said.
The company also plans to establish a cooperation network with leading American and European research and technological centers, NovaMedica’s vice president for pharmaceutical operations Mikhail Getman said. “Our technological center will be a bridge by which new know-how and achievements in the pharmaceutical industry will arrive in Russia, reach production facilities, and be exported in the future,” he said.
Rusnano Management Company’s managing director for investment operations Olga Shpichko said that NovaMedica was already developing several drugs with an innovative component and that the launch of the R&D center would considerably accelerate the development and the commercialization of drugs.
NovaMedica earlier announced that it was planning to intensify R&D activities in order to create a portfolio of its own pharmaceutical products with the use of nanotechnologies. It wants to develop up to 15 innovative drugs in the coming seven years, most of them on the basis of innovative nanotechnologies.
NovaMedica was established in 2012 under a USD760-million project to bring advanced medical know-how to Russia. The venture is sponsored by the Domain Associate venture fund (U.S.) and the Rusnano Corporation. NovaMedica is co-owned by Domain Russia Investments Limited and by RusnanoMedInvest, in which Rusnano owns a 99.9-percent stake. Each entity has a 50-percent stake in the company.
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