NovaMedica to develop up to 15 nano-drugs by 2020

LLC NovaMedica (Moscow) is planning to intensify research work to develop a portfolio of its own pharmaceutical products with the use of nano-technology.

It is going to develop up to 15 innovative drugs within the coming seven years, most of which will be based on nano-technologies, the company said in a report.

Work on two such products is underway already, and one of them has entered the stage of clinical trials. An active ingredient in this drug has unique physical and chemical properties. We have created a pharmaceutical product which no country has been able to obtain, although a discussion of such a drug has been on for a decade now. We have filed four patent applications under this project and will file more in the future, including international ones, as this product has a good export potential, Vladimir Gurdus, general director of RMI Partners which manages NovaMedica, said, according to the company’s statement.

In 2016 NovaMedica plans to open its own research laboratory to develop new pharmaceutical products on the basis of nano-technologies.

NovaMedica was set up in 2012 under a project run by Rusnano and the Domain Associates U.S. venture fund, to bring medical and pharmaceutical technologies to Russia. The project is estimated at $760 million.

A 51% stake in NovaMedica is owned by Domain Russia Investments Limited, and 49% by LLC RusnanoMedInvest in which 99.9% is held by Rusnano, according to the SPARK-Interfax database.

NovaMedica is building a pharmaceutical production facility in the Kaluga region. Investment amounts to $85 million.