Russia's Rusnano and US Domain Associates to focus on development of innovative drugs

25 July 2011

The Russian State Corporation of Nanotechnologies (Rusnano) has signed an agreement with Domain Associates, a US venture capital firm with an exclusive focus on life sciences, to establish an equally owned joint venture for the production of innovative drugs in Russia.

As part of the project, the companies plan to focus on the production of a wide range of drugs against cancer, cardiovascular, age-related, as well as endocrine diseases. In addition to innovative drugs, the partners plan to invest in the initiation of production of modern diagnostic equipment.

The project involves investments in portfolio companies of Domain Associates, which have already registered a finished product or are in advanced stages of their clinical trials, which helps to minimize investment risks. According to sources in the Russian government, final parameters of the new investment project will be disclosed later.

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