Japan's JBIC, Russia's RDIF Invest Over $6Mln in EMG Firm for COVID-19 Test Systems

Sputnik, 07.05.2020

MOSCOW, May 7 (Sputnik) - The Japan Bank for International Cooperation (JBIC) and the Russian Direct Investment Fund (RDIF) have invested more than 500 million rubles ($6.7 million) in the joint production of Evotech Mirai Genomics (EMG) COVID-19 diagnostics systems, RDIF CEO Kirill Dmitriev said on Thursday.

"In anticipation of talks between [Russian] President Vladimir Putin and Japanese Prime Minister Shinzo Abe, our Japanese partner JBIC decided together with RDIF to invest over 500 million rubles in the production of Russian-Japanese test systems EMG ... through a joint Russian-Japanese investment fund. RDIF and JBIC are working on new initiatives and investments in the fight against coronavirus, which will be announced in the near future as wished by leaders of our countries," Dmitriev said.

The partnership between Russia and Japan, countries with unique technologies to combat the deadly diseases from testing to vaccine production, is strategically important for defeating the coronavirus, the RDIF head added.

Earlier in the day, Putin and Abe held a phone conversation to discuss the COVID-19 pandemic, including cooperation on joint development of medications and agreed to continue contacts at different levels, as the global epidemiological situation normalizes.

In early April, EMG had secured orders for 2 million Russian-Japanese COVID-19 diagnostics systems from 40 Russian companies.

RDIF and Japan's Mirai Genomics have created jointly a new COVID-19 testing system, which can be used both at static and portable laboratories, and provide results within up to 30 minutes.