The production site of the Russian pharmaceutical company NovaMedica will be chosen in the 1st quarter of 2013
- NovaMedica is a new pharmaceutical company, established as an integral part of the $760 million collaboration between the Russian high-technology investment fund RUSNANO and the American health care venture fund Domain Associates LLC.
- NovaMedica was formed specifically to be the development, marketing and operational arm, taking the highly innovative next-generation products from the collaboration, and commercializing them in Russia and the CIS.
Moscow, November 12, 2012 – The identification of location of the production site of a new pharmaceutical company NovaMedica, a joint enterprise betweenthe Russian high-technology investment fund RUSNANO and the American venture healthcare fund Domain Associates will be chosen at the end of the first quarter of 2013.
NovaMedica was established in the frameworks of the cooperation agreement, which was signed by RUSNANO and Domain Associates in March 2012. The partnership involves joint investment in advanced medical technologies and innovative drugs, and bringing these to market in Russia and the Community of Independent States (CIS) for their development, manufacture, and commercialization, including the creation of a GMP production facility.
“We are analyzing proposals concerning the location of our enterprise from several specialized regional pharmaceutical clusters, and considering other variants, - said Fabrice Egros, COO, Pharmaceutical Director and board member of NovaMedica, - “Our selection will be finalized in the beginning of 2013, taking into account an analysis of our technical criteria and compliance with our corporate strategy“.
Fabrice also stated that NovaMedica's “backbone” is its team, including the appointment of vice-presidents Mark Mugerditchian and Mikhail Getman.
Mark Mugerditchian has 33 years of experience in pharmaceutical industry, with experience in design engineering, and product development and production, as well as experience in management of pharmaceutical projects. Earlier he held the position of the senior vice-president of Manufacturing and Product Development at Sequel Pharmaceuticals and NovaCardia. He also held managerial positions at Gensia Sicor where he was responsible for its contract manufacturing business unit, and Dura Pharmaceuticals, where he developed its project management infrastructure, and was responsible for launching of Dura’s inhaled insulin program and managing pharmaceutical production. He also held various production and engineering positions at Abbott Laboratories, Key Pharmaceuticals and Fujisawa USA. Mark has a diploma in chemical science from the University of Illinois, as well as additional degrees in corporate management.
Mikhail Getman from 1991 to 2012 held managerial positions both at Russian and foreign pharmaceutical companies. From 2004 to 2007 he was an advisor to the Head of the Federal Service for health and social development. While there, he helped supervise the launch of DLO (the first Russian drug reimbursement system), as well as administrative reform and improving administrative practices. Mikhail has developed amendments to some Federal Laws and a number of administrative Russian regulations related to pharmaceuticals, medical devices and medical practices. He holds a Ph.D and a Pharm.D from St. Petersburg Chemical and Pharmaceutical Academy.
RUSNANO was established in March 2011 as an open joint stock company through the reorganization of the state corporation Russian Corporation of Nanotechnologies. RUSNANO's mission is to develop the Russian nanotechnology industry through co-investment in nanotechnology projects with substantial economic potential or social benefit. The Government of the Russian Federation owns 100 percent of the shares in RUSNANO. Work to establish a nanotechnology infrastructure and training for nanotechnology specialists, formerly conducted by the Russian Corporation of Nanotechnologies, has been entrusted to the Fund for Infrastructure and Educational Programs, a non-commercial fund also established through the reorganization of the Russian Corporation of Nanotechnologies.
About Domain Associates
Founded in 1985, Domain Associates, L.L.C. 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. Domain’s three major investment segments are pharmaceuticals, specialty pharmaceuticals, and medical devices, while additional areas of interest include biomaterials, bioinstrumentation, and diagnostics.The Partners of Domain have a total of close to 200 person-years of experience among them in the healthcare/venture capital industries and have been involved in the formation and growth of more than 235 life-sciences companies. The highly focused network, experience, and reputation of this team have made it one of the top private-equity groups participating in the healthcare field.