NovaMedica, Kaluga Region and City of Kaluga Sign Agreement on Construction of Pharmaceutical Plant in the Region
The Government of Kaluga Region, the Administrative Board of the City of Kaluga and NovaMedica pharmaceutical company have signed an agreement on the execution of an investment project to build a new pharmaceutical plant in the region.
The document was signed by Anatoly Artamonov, Governor of Kaluga Region, Nikolay Polezhaev, Mayor of the City of Kaluga, Nikolay Milkis, General Director of the Kaluga Region Development Corporation, and Vladimir Gurdus, General Director of
The new plant will be built under a joint venture between DRI Holdings Limited, a portfolio company of Domain Associates LLC, a leading American venture capital firm, and RUSNANO, a Russian
The agreement envisages the creation of a new
Around $85 million will be invested to build the NovaMedica plant. The land plot where NovaMedica’s production facilities will be constructed occupies a total surface area of 50,000 square metres. The plant is expected to generate more than 100 new jobs.
“The decision of NovaMedica to invest in our region dovetails perfectly with our strategy to develop a
“We believe that NovaMedica’s new GMP- and
NovaMedica is a modern Russian pharmaceutical company founded in 2012 by Domain Associates LLC, U.S. venture capital firm, and RUSNANO, JSC. NovaMedica’s strategy is aimed at search, registration and localization in Russia of intellectual property rights for innovative pharmaceuticals products and technologies, as well as at development and implementation of own R&D projects.
NovaMedica owns intellectual property rights within Russia and the CIS on 36 innovative developments from the portfolio of the RusnanoMedInvest venture fund. These preparations are for antiviral and anti-inflammatory therapy, treatment of ophthalmic diseases and epilepsy, innovative technologies for detection of oncological and infectious diseases.
Also NovaMedica is working on creation of a number of its own products. R&D department of the company plans to develop about 15 innovative drugs until 2022. These are drugs for treatment of diseases in the field of gastroenterology, pain management, neurology, ophthalmology and rheumatology.
In April 2017, NovaMedica opened the Technological Center “NovaMedica Innotech” that has the latest technological capabilities previously unavailable in the Russian pharmaceutical industry. The company also has a developed infrastructure for promoting and selling pharmaceutical products.
For more information, please visit www.novamedica.com
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RUSNANO Joint-Stock Company was founded in March 2011 through reorganization of state corporation Russian Corporation of Nanotechnologies. JSC RUSNANO contributes to implementation of the state policy on the development of the nanotechnology industry by investing directly and through investment funds of nanotechnology in financially effective high-technology projects providing the development of new production facilities in the Russian Federation. Its primary investment focus is in electronics, optoelectronics and telecommunications, healthcare and biotechnology, metallurgy and metalwork, energy, mechanical engineering and instrument making, construction and industrial materials, chemicals and petrochemicals. 100 percent of RUSNANO’s shares are state owned. Thanks to RUSNANO’s investments, there are currently 103 factories and R&D Centers opened in 37 regions in Russia. JSC RUSNANO has profit for the last 5 years.
Management of assets of RUSNANO JSC is carried out by Limited Liability Company established in December 2013, RUSNANO Management Company. Anatoly Chubais is the Chairman of its Executive Board.
Work to establish nanotechnology infrastructure and carry out educational programs is fulfilled by RUSNANO’s Fund for Infrastructure and Educational Programs, which was also established during the reorganization of the Russian Corporation of Nanotechnologies.
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Domain Associates, LLC is a venture capital firm with an exclusive focus on life sciences. With $2.4 billion of capital under management, Domain is headquartered in Princeton, NJ with a second office in San Diego, CA. Partners of Domain have been involved in the formation and growth of more than 235 life-sciences companies. Domain has an investment portfolio of 80 companies.
For more information, please visit www.domainvc.com