The 3rd International Conference Innovative Drug Research and Development in Russia, organized by Adam Smith Conferences, took place on November21-23, in Moscow. The forum was attended by representatives of the Ministry of Industry and Trade of the Russian Federation, the State Duma, Ministry of Health and Social Development and the largest international and Russian pharmaceutical firms.
The formation of Russian innovative pharmaceuticals is one of the priorities of development institutions designed to develop the industry in partnership with leading manufacturers, domestic companies and research institutions. The work of development institutions enables new Russian companies to attract financing for their own developments at the very early stages.
A special section called New Generation: The Future of the Industry took place at the conference with the support of RVC, and presented the projects of eight young innovative companies to get funding for further development.
The section was opened by Alexey Konov, the vice president of Bioprocess group of companies and the chief investment at biotech venture capital fund Bioprocess Capital Ventures, established with the participation of RVC’s capital. Alexey Konov said that, despite the fact that investments in biotechnology are risky, this is the area of possible technological breakthroughs, and it means high return from investments.
Most innovative projects involved in the presentation session, are the residents of Skolkovo with proven investment perspective. Representatives of major pharmaceutical and biotechnological companies and investors, who joined the conference, expressed their interest in the developments of young companies.
I would like to note the high quality of projects, and social significance of the problems they solve, - Alexander Hasin said after the session, the General Director of Nanobalans and one of the ideologists and founders of the Association of medical startups MedStart. - Many of the projects have already received investments from Russian venture funds and organize clinical trials. Most of the projects are an example of collaboration of foreign and Russian scientists. The presentations demonstrated that Russian branch of venture capital investments in biotechnology has made a major step forward over the past five years.