17 June 2019
Moscow-Saint Petersburg, June 17, 2019 – Russian pharmaceutical companies NovaMedica and Pharmsynthez started implementing a joint project to ensure access to a number of effective products, with the full manufacturing cycle localized in Russia, for Russian patients within 1.5-2 years. The products are in the anesthesiology and gastroenterology therapeutic areas, intended for both the hospital and commercial markets.
As part of the cooperation, Pharmsynthez will perform the full set of research and engineering activities to create a synthesis technology for three active pharmaceutical ingredients, and NovaMedica will develop finished dosage forms on their basis at its own R&D center NovaMedica Innotech and ensure the manufacturing.
“Our objective is to introduce to the Russian market effective state-of-the-art drug products at the most affordable price possible. It is important that one of these products will appear in our market for the first time; Russian patients are really looking forward to it”, emphasizes Vice President of NovaMedica Rustam Iksanov.
“The combination of our competences creates ideal conditions for the achievement of our common strategic goal: to ensure that Russian patients have access to effective drug products manufactured in Russia. We know how carefully NovaMedica approached the task of selecting a partner for this project, also considering some of the biggest foreign enterprises, which is why we are proud that the final choice was in favor of our expertise, professionalism and technological capacities. On our part, we hope that this project will be the first step in a long-term and mutually beneficial cooperation between our companies”, says Director General of Pharmsynthez PJSC Petr Kruglyakov.
Information on the companies:
NovaMedica is a modern Russian pharmaceutical company founded in 2012 by RUSNANO JSC and the US venture capital fund Domain Associates LLC. NovaMedica's strategy is aimed at search, registration and localization in Russia of intellectual property rights for innovative pharmaceutical products and technologies, as well as at development and implementation of own R&D projects and creation of a modern GMP manufacturing facility. NovaMedica has a well-developed infrastructure for promotion and sales of pharmaceutical products. In April 2017, the company launched in Moscow its own R&D center NovaMedica Innotech, which has state-of-the-art technological capabilities that were previously unavailable in the Russian pharmaceutical industry. In 2016, NovaMedica became the key partner of Pfizer in Russia. Partners agreed to localize more than 30 EDL products from the Pfizer portfolio in Russia and, to pursue this goal, to construct a modern plant for manufacturing of sterile injectable drug products in the Kaluga region. The ground-breaking ceremony took place on May 30, 2017. In March 2018, NovaMedica, the Russian Ministry of Industry and Trade and the Kaluga region signed the Special Investment Contract (SPIC) regarding creation of this new pharmaceutical manufacturing facility.
More information at www.novamedica.com
Pharmsynthez (Saint Petersburg) is a public joint stock company, which develops and manufactures pharmaceutical ingredients and products both within its own portfolio and on contract manufacturing terms. The company has a unique manufacturing facility in the Leningrad region. Pharmsynthez PJSC is the parent company of the holding, whose key assets are Xenetic Bioscience Inc. (USA) – developer of several promising pharmaceutical products, listed at Nasdaq (ticker XBIO), and Kevelt AS (Estonia) – GMP-certified developer and manufacturer of pharmaceutical products for the markets of the USA, Europe and the CIS countries. Shares of Pharmsynthez PJSC are traded at the Moscow Stock Exchange in the Innovation and Investment Market sector (ticker LIFE).
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