Russian Ministry of Health approves the first COVID-19 drug Avifavir produced by JV of RDIF and ChemRar

Press release, 30.05.2020

Moscow, May 30, 2020 - The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, and the ChemRar Group today announce that Avifavir has received a temporary registration certificate from the Ministry of Health of the Russian Federation. Avifavir is Russia’s first COVID-19 drug and has shown high efficacy in treating patients with coronavirus during clinical trials.

Online press conference with details about Avifavir will be held on June 1 at 10:00 Moscow time. Further information about the conference and media accreditation can be found at https://tass.ru/press/10057

Avifavir, which disrupts the reproduction mechanisms of coronavirus, is the first Russian direct antiviral drug that has proven effective in clinical trials. The drug has been well studied, since it has been used in Japan since 2014 against severe forms of influenza.

The intermediate data of Avifavir clinical trials confirm its high efficacy against COVID-19. The final stage of Avifavir clinical trials involving 330 patients, approved by the Russian Ministry of Health on May 21, 2020, is ongoing.

The drug proved to be highly effective during the clinical trials involving I.M. Sechenov First Moscow State Medical University, Lomonosov Moscow State University and other medical and academic institutions.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund, said:
“Afivavir is not only the first antiviral drug registered against coronavirus in Russia, but it is also perhaps the most promising anti-COVID-19 drug in the world. It was developed and tested in clinical trials in Russia in unprecedentedly short period of time enabling Afivavir to become the first registered drug based on Favipiravir in the world.”

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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. Currently, RDIF has experience of the successful joint implementation of more than 80 projects with foreign partners totaling more than RUB1.8 tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 800,000 people and generate revenues which equate to more than 6% of Russia’s GDP. RDIF has established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than $40 bn.

RDIF takes active steps to counteract COVID-19:

  • RDIF and partners have launched the production of the unique Russian-Japanese EMG diagnostic system, which generates results in 30 minutes with a very high accuracy in both stationary and unmatched portable mini-laboratories. The Japan Bank for International Cooperation has joined the project through the Russia-Japan Investment Fund;
  • RDIF and the ChemRar Group have produced the first batch of Favipiravir, a drug that has proven effective in the treatment of infected patients in China and in clinical trials in Russia. Preparations are currently underway for the mass production of the drug;
  • RDIF has launched a project to diagnose and detect pneumonia, including that caused by coronavirus, using CT scans combined with the Russian-UAE artificial intelligence (AI) technology developed jointly by Group 42 (G42), RDIF and Medscan Group;
  • RDIF has provided support to the public in observing the lockdown restrictions and self-isolation regime, driving a several-fold increase in telemedicine consultations via the Doctis service, as well as in access and subscriptions to the ivi online media library, delivery of Elementaree meal kits and demand for products and services of other RDIF portfolio companies;
  • The Mother and Child Group, an RDIF's portfolio company, has repurposed its largest clinical hospital Lapino to treat patients with COVID-19 symptoms.
  • RDIF was one of the initiators of the Alliance against coronavirus, which also includes the Russian Union of Industrialists and Entrepreneurs (RUIE), Yandex, Mail.ru Group and the Rossiya Segodnya international news agency. RDIF is actively involved in key initiatives and charity projects.

Further information can be found at www.rdif.ru

ChemRar Group unites R&D service and investment companies in the field of innovative pharmaceuticals for the development and commercialization of innovative medicines, diagnostics, preventive care and new treatments of life-threatening diseases in Russia and abroad.

ChemRar Group celebrates its 30th anniversary in 2020. Throughout its history, the company has maintained and improved the achievements and quality of its medical chemistry and has saved its personnel reserve of world-class employees and scientists, thanks to which ChemRar is one of the global leaders in the industry today.

Further information can be found at http://en.chemrar.ru/

For additional information contact:
Arseniy Palagin
Russian Direct Investment Fund

Press Secretary
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
E-mail: arseniy.palagin@rdif.ru

Andrew Leach / Maria Shiryaevskaya
Hudson Sandler

Tel: +44 (0) 20 7796 4133

Elena Surina
ChemRar Group
PR Director
Mobile +7 9262067871
E-mail: es@chemrar.ru