RDIF, Sistema and Korean company Macrogen plan to jointly develop biotechnology in Russia
Press release, 14.09.2018
RDIF and Sistema PJSFC have agreed with one of South Korea`s leading biotechnology companies to develop Russia's private biotechnology R&D market
Vladivostok, September 14, 2018 – The Russian Direct Investment Fund (RDIF), the sovereign wealth fund of Russia, and Sistema PJSFC, a publicly traded diversified Russian holding company, have agreed with South Korean firm Macrogen to cooperate to develop the biotechnology sector in the Russian Federation following the Eastern Economic Forum.
Macrogen, whose technology has been supplied to more than 100 countries for the last 20 years, has world-class expertise in the area of genetic analysis, including gene and capillary sequencing, microarray, oligo synthesis and bioinformatics. According the trilateral agreement RDIF, Sistema and Macrogen plan to jointly create conditions for the practical implementation of these developments in Russia and to conduct further research.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), noted:
“RDIF actively deals with industry and strategic investors to attract the most advanced technologies and to implement projects. The area of genetics in science and medicine has already proved not only its prospects, but also its consistency. Together with partners, we see great opportunities for combining practices and effective commercial use of leading global achievements in this field. This allows us to create an infrastructure to improve the quality of life and healthcare of our citizens, as well as for subsequent breakthrough scientific discoveries.”
Artem Sirazutdinov, Chairman of the Board of Directors of the Medsi Group of Companies, said:
“Our strategy to grow our healthcare business envisions establishing a broad network of partners and working jointly with other companies in the industry. On the basis of the clinical capacity of Medsi’s medical chain, owned by Sistema, and leveraging leading international expertise, we are focused on bringing the most advanced biotechnology to Russia, and to improving diagnostics and treatment of socially significant diseases such as cancer. The expertise of Korean R&D centres, which have made considerable progress in the areas of gene and cell-based technologies, will be extremely useful, including in the development of new targeted cancer therapies.”
Kap-seok Yang, CEO of Macrogen Inc, said:
“Sistema leads Russian healthcare market with its affiliate company, Medsi. And Macrogen is proud to be a part in multipartite R&D partnership with Sistema and RDIF. The partnership seems promising for the successful market access in Russia. With years of experience for genetic sequencing and analysis service, Macrogen aims to be the best partner to enhance total quality of life in Russia in terms of precision medicine along with clinical diagnostics and big data. That is only possible through collaboration encompassing from A to Z in healthcare industry.”
Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Further information can be found at www.rdif.ru
Sistema PJSFC is a publicly-traded diversified Russian holding company serving over 150 million customers in the sectors of telecommunications, children’s goods retail, paper and packaging, healthcare services, agriculture, high technology, banking, real estate, pharmaceuticals and hospitality. The company was founded in 1993. Its revenue in 2017 was RUB 704.6 bn; its total assets equalled RUB 1.1 trn as of 31 December 2017. Sistema’s global depositary receipts are listed under the “SSA” ticker on the London Stock Exchange. Sistema’s ordinary shares are listed under the “AFKS” ticker on the Moscow Exchange. Website: www.sistema.com.
The Medsi Group of Companies is Russia’s leading chain of private medical clinics, offering a full range of medical services – from intake and ambulatory services to high-tech diagnostics and complex surgery to rehabilitation. Today Medsi's facilities include 25 clinics in Moscow and the Moscow region (including two paediatric clinics, two clinical hospitals and three clinical-diagnostic centres), 12 clinics in the Russian regions, an ambulance service, an in-home care service, a medical wellness division and two sanatoriums. Medsi's facilities occupy more than 233,000 square metres. The company sees approximately 8 million patients annually and employs more than 2,000 physicians.
Macrogen is a precision medical and biotechnology company with a global reach. Established on June 5, 1997 from the Genome Medical Research Institute of Seoul National University, in February 2000 Macrogen became Korea’s first bio venture company listed on KOSDAQ, Korea’s stock trading platform for technology companies. Its commercialization of technologies and ongoing research and development have earned it the distinguished reputation as Korea’s leading biotechnology company and a global genetic analysis specialist.
For additional information contact:
Russian Direct Investment Fund
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
Andrew Hayes / Andrew Leach
Tel: +44 (0) 20 7796 4133
Tel: +7 495 228 15 32