Russian pharmaceutical business needs a seed fund
Oleg Korzinov: "Why shouldn't a Russian venture company create a seed fund in the field of living systems?"The initial stages of drug development in the West are mainly funded from public money, and animal trials of drugs and the first phases of clinical trials are funded by seed funds.
Oleg Mikhailovich Korzinov, Head of the Innovation Department of the ChemRar Central Research Center.Why can't the Russian pharmaceutical business independently develop innovative medicines from scratch?
— Unfortunately, our pharmaceutical companies do not have the infrastructure or financial capabilities for this.
But even if there were enough funds, the problem rests on the generally accepted "rules of the game" in the field of pharmaceutical business. Corporate strategies of many companies (and not only Russian, but also international) involve the acquisition of innovative developments only after passing the first or second phase of clinical trials and later. The first stages of drug development are very risky, and public pharmaceutical companies have strict investment criteria fixed in the financing regulations, etc.
In the West, the initial stages of development mainly take place in academic institutions at the expense of public money, and the "pre-clinic" and the first phases of clinical trials are funded by seed funds. In most countries, for example, in the United States of America, projects at the development stage receive seed funding on very preferential terms. That is, there are no criteria for the return on this money, as well as the obligations of scientists to achieve certain results on certain indicators, including commercialization. These are the most risky investments that are needed in order for the necessary number of startups and projects to appear at the initial stages. World statistics show that in order for one fundamentally new drug to enter the market, 75-100 projects are needed at the "discovery" stage (R&D). Then the projects are "picked up" by venture funds or pharmaceutical companies. We propose to create the same mechanisms in Russia.
To a greater extent, seed funds should be formed on the basis of state funds. And business could take over the functions of selecting and examining projects, and in this sense, public-private partnership can be very effective. Why, for example, would a Russian venture company not create a fund for seed financing of developments in the field of living systems? In addition, many pharmaceutical manufacturers are ready to invest in R&D themselves at an early stage, but on condition that they receive financial support from the state to hedge their risks.
What amount of seed funding in the field of drug development from the state do you consider necessary?— It depends on what goals the state sets.
If we are guided by the draft strategy for the development of the pharmaceutical industry, submitted by the Ministry of Industry and Trade to the government for consideration, then this goal is a share of 50% of domestic medicines in the total volume of the drug market by 2020. To ensure such indicators, according to our calculations, it is necessary to finance projects worth about 111 billion rubles by 2020, of which 60% should be allocated in the next two to three years. This is necessary to start the cycle of development of innovative drugs.
Michael is found, STRF.ruPortal "Eternal youth" www.vechnayamolodost.ru