Pro Bono Bio, an Anglo/Russian medical nanotech firm, debuts today

Pro Bono Bio was launched as a “capitalist business but with humanitarian impact” during a state visit by the UK Prime Minister to Russia this morning. Pro Bono Bio is the result of a three year Anglo/Russian project, developed by Celtic Pharma Holdings, a London-based Bermuda registered life sciences firm, with ambitious growth targets that will allow it to support a unique humanitarian mission.

Pro Bono Bio combines global pharma expertise from the UK with international capital and matched funding from the Russia’s human stem cell institute, RusNano (Russian Corporation of Nanotechnologies), which will hold a 40% stake in the new venture and has already invested around £300 million ($476.9 million) in Celtic funds. The new company plans to list on the London and Moscow stock exchanges within four years.

According to a company statement, Pro Bono Bio’s products will be priced in different geographic areas based on the region’s ability to pay. Importantly, the new company’s business model includes the provision of free drug donations to Africa based on the sales of its products at normal prices in the pharmaceutical markets of Western Europe.