Russia's RusNano invests in Selecta and BIND to develop and commercialize vaccines and cancer drugs

Two USA-based nano-medicines companies, BIND Biosciences and Selecta Biosciences, have entered into investment agreements with RusNano (Russian Corporation of Nanotechnologies), a $10-billion Russian Federation fund that supports high-tech and nanotechnology advances.

RusNano is co-investing $25 million in BIND and $25 million in Selecta, for a total investment of $50 million within the total financing rounds of $94.5 million in the two companies combined. The remaining co-investments, $22.25 million in each company, come from current and new investors of BIND and Selecta.

BIND and Selecta will augment their US-based core operations by establishing subsidiaries in Russia where they will develop their technology platforms in nano-medicine and access the country’s scientific expertise and clinical trial resources. Financing will enable both companies to accelerate and maximize their platforms’ potential for developing multiple drug products. The agreements enable BIND and Selecta to expand into Russia to conduct full-cycle drug development - from R&D through manufacturing and commercialization - and enhance access to high growth pharmaceutical markets.