Pharmsynthez, OJSC

Operating Factories

Shareholders in Portfolio Company 
EрhaG AS, Opko Health, RUSNANO, Company management

Industry Sector 
Medicine and Pharmacology

Production Location 
St. Petersburg

Investment Started:  2013

Total Budget

1.86  bln rubles
Co-investment by RUSNANO
1.19  bln rubles

Pharmsynthez will bring a number of unique and much-needed drugs to Russian and global markets. During this investment phase, clinical trials of the drugs that Pharmsynthez developed will be completed, their large-scale manufacturing will begin, and the drugs will be brought to foreign markets.

Pharmsynthez is a Russian pharmaceutical company that specializes in producing and distributing innovative drugs. The company is able to work in three areas of drug manufacturing—laboratory research and development of new medicines, preparation of original active pharmaceutical ingredients and drugs, and launching products into markets. Such breadth is unusual for Russian pharmaceutical companies.

By constructing its own production facilities, Pharmsynthez will be able to replace contract manufacturing. This will significantly reduce its production costs, allowing it to saving upwards of $2 million per year.

Pharmsynthez will issue several drugs to which it has rights: Myeloxen, a drug given by injection to treat multiple sclerosis, and four oral drugs—Cladribine-Nano, Fludarabine-Nano, Pulmoxen, and Virexxa. The five drugs, part of a class of drugs called either immunobiological preparations or modified nucleosides, are all in clinical trials, although stages vary.

Virexxa®, which Pharmsynthez developed, is without analogue anywhere in the world. The US Food and Drug Administration (FDA) has assigned Virexxa the status of an orphan drug for hormonotherapy-resistant endometrial cancer, a malignancy of the lining of the uterus. Virexxa is the first innovative Russian pharmaceutical to receive orphan drug status in the United States, where the market is estimated at $500 million per year.