RCIF, Sistema, CapitalBio to invest in biotechenology lab
VLADIVOSTOK. Sept 11 (Interfax) - The Russia-China Investment Fund (RCIF), CapitalBio Technology, an industry-leading Chinese life science company that develops and commercializes total health-care solutions, and Sistema PJSFC (MOEX: AFKS) have agreed to create the largest innovative biotechnology laboratory in Russia, the Russian Direct Investment Fund (RDIF) said in a press release.
The agreement was signed on the sidelines of the meeting between Russian President Vladimir Putin and Chinese President Xi Jinping at the Eastern Economic Forum.
This first Russian private innovative biotechnology laboratory will focus on genetic and molecular research in order to diagnose and treat socially significant diseases, including cancer treatment. The biotechnological center will consist of a genetic laboratory, a preclinical studies laboratory, a cell technologies laboratory, and a biobank. The activities of the laboratory will be based on international best practice, the experience of scientists in the biomedicine field, and the knowledge of international partners from global companies.
"Investments in the development of national medicine are one of the priorities of RDIF. We strive to improve the quality of life of the population by investing in socially significant projects. Financing of the first Russian biotechnology laboratory specializing in oncogenetics will provide substantial support to scientific research in this field and will allow for the future development of the newest effective medical drugs to combat oncological diseases. This is the first transaction by RDIF in the field of genetics, and we intend to continue actively searching for attractive investment opportunities in this area," said Kirill Dmitriev, CEO of the RDIF and Co-CEO of the RCIF.
"The global market for medical services is on the threshold of significant discoveries, above all in genetic research. Establishing the first private biotech laboratory in Russia in partnership with CapitalBio, one of the leading Chinese R&D Institute, will make it possible to leverage the accumulated knowledge of Russian and Chinese geneticists, and to introduce innovative diagnostic techniques and personalised treatments of diseases that have significant social impact into real clinical practice. We hope that the opening of a biotech laboratory will help many Russians to fight cancer," said Vladimir Evtushenkov, Chairman of Sistema's Board of Directors.