Pfizer will work with a Russian venture capital company to research and market new drugs in Russia and surrounding countries, according to the Associated Press.

Pfizer said it will work with ChemRar High Tech Center to explore research, development and marketing of drugs and vaccines to treat heart and metabolic illnesses, infectious diseases and cancer. It said those conditions are a high priority for the Russian Federation health care system.

Pfizer and ChemRar did not disclose any financial terms. The partnership plans to seek technology transfer and licensing deals for drugs in Pfizer's pipeline of developing drugs.