RUSNANO to invest $ 380 M into the innovative medicines production project

Today the agreement under which RUSNANO and Domain Associates will join their efforts to implement the project of the Russian health care market development has been signed. The total budget of the project will estimate $ 760 M, the money will be spent on the transfer of modern medical technology and creation in Russia the production of innovative medicines, including anticancer and antiviral agents, as well as drugs for treating cardiovascular disease.

RUSNANO will invest $ 380 M - they will be sent to more than 20 U.S. biotech companies involved in the pharmaceutical, biotechnological developments and in medical devices manufacturing. To organize the production of medicines passed, the manufacturing in Russia will be constructed in accordance with the GMP-standards (Good Manufacturing Practice - an international system of rules, regulations and guidelines for production).

According to Anatoly Chubais, the RUSNANO chairman, the projects in the field of medicine comprise about 20% of the RUSNANO portfolio. I am absolutely sure that this project will make a significant contribution to the development of innovative components of the pharmaceutical industry in Russia, - Chubais adds.

For production in Russia, we offer advanced innovative products, which are in the later stages of clinical investigations or in registration process, - Brian Dovi, the Domain Associates board member, noted.

Team Drive Management Company was involved for the development of the project.

The implementation of this project will significantly reduce the emergence time of new medications in Russia. For Russian consumers, this means that they can receive the most advanced medicine simultaneously with their world premieres - Leonid Melamed, Team Drive Board of Directors’ Chairman, said.