Russian firms join in $113 million R&D project
Tuesday, August 9, 2011
Several Russian companies have linked up to establish a joint venture designed to develop innovative treatments in the country, according to PharmaTimes.
The SynBio project has been initiated by the Human Stem Cells Institute (HSCI), Russia’s leading biotechnology company, which will have a 28.1% stake in the venture. It has attracted investment from the government-owned investment company Rusnano, which will have a 41.4% holding and other Russian firms involved include Cryonix and Pharmsynthez.
The lead R&D partner for the project is the UK’s Lipoxen, which is in the process of merging with Germany’s SymbioTec. SynBio will focus on developing treatments based on three technological platforms. It will look at drugs engineered from cell-based technologies for the treatment of chronic diffuse liver disease and treatments based on the human nuclear protein histone H1 for cancer and other diseases.
SynBio will also focus on “sustained-release drugs using polysialic acid”, such as ‘biobetters’ for the treatment of diabetes, Alzheimer’s, chronic kidney disease and a number of other conditions. The total budget for the project over the next four years amounts to roughly $113 million.