World-class Russian biomedicine
RVC Biofund invests in PrimeBioMed
RVC Press Service
On December 4, the opening of the first laboratory in Russia for the production of antibodies for the diagnosis of oncological diseases and the development of diagnostic systems based on them – Primbiomed - took place at the Slava Technopark. PrimeBioMed is a portfolio company of the RVC Biofund.
The main consumers of Primbiomed products are diagnostic and research laboratories, medical centers, manufacturers of antibody–based products. The volume of investments required for the implementation of all areas of the company's activities amounted to more than 110 million rubles. The project partner was the American biotech company Gemened Biotechnologies Inc (CA, USA). The opening ceremony was attended by Grigory Senchenya, Deputy Head of the Moscow Department of Science, Industrial Policy and Entrepreneurship.
The key activity of the company is the production of antibodies that can be used for the diagnosis of oncological diseases, as well as the prognosis and evaluation of the effectiveness of treatment. In addition to production activities, Primbiomed provides assistance in the implementation of scientific projects and educational programs in the field of biotechnology.
"The foundations of cancer immunodiagnostics were laid by the Russian scientist, academician Harry Abelev, who discovered the world's first molecular marker of tumors in the early 60s of the last century. In the 70s and 80s, a large number of antibody-based diagnostic tests were developed in the USSR, which are still being successfully produced abroad. In the 90s, Russia's leading positions in the field of biotechnology were lost. One of the goals of the creation of the company Primbiomed is to revive the Russian potential for the development and production of reagents for immunodiagnostics at the most modern level. We not only use Western technologies, reducing Russia's dependence on foreign products, but also help Russian scientists implement their developments and bring them to clinical use," comments Alexey Grachev, CEO of Primbiomed.
To date, the domestic markets of diagnostic products based on antibodies and research antibodies are almost completely occupied by foreign manufacturers. The volume of the Russian market of antibodies in the field of cancer diagnostics is about 800 million rubles (3% of the world market). Today there are no companies in Russia that apply an integrated approach to working with antibodies – from their production, development, testing to modification and humanization. Against the background of the regime of optimizing the financing of healthcare and research programs, import-substituting goods are gaining a special role.
"Replacement of the imported component base is one of the key directions of the industrial policy of the city. The capital's technoparks offer comfortable conditions for launching and developing high–tech industries of the widest range of import-substituting products," said Grigory Senchenya, Deputy Head of the Department of Science, Industrial Policy and Entrepreneurship.
The company's production facilities are able to fully meet the demand of domestic medical institutions for reagents, abandoning imported analogues. Over the next five years, Primbiomed plans to occupy up to 60% of the Russian market of antibodies for the diagnosis of oncological diseases. According to the specialists of the laboratory, these plans are quite feasible, thanks to the advantages over foreign companies of a similar profile. In particular, Primbiomed products have a lower price in comparison with Western analogues while maintaining quality, since the Russian "address" allows you to optimize the costs associated with delivery and significantly simplify accounting, and the absence of customs clearance saves not only money, but also time to promote products on the market.
The struggle for the market involves competition not only with foreign, but also with domestic antibody manufacturing companies. The undoubted advantage of Primbiomed in this case is a wider range of diagnostic reagents offered, including for the diagnosis of oncological diseases. In addition, thanks to cooperation with the American Genemed Biotechnologies Inc, the portfolio company of the RVC Biofund provides the highest technological level of production.
"The PrimeBioMed project is an organic fusion of technological, expert, organizational and investment competencies. The project is aimed at solving an important and ambitious task – the creation in Russia of a unique biotechnological production of medical devices that is not inferior in quality to the best Western analogues. As investors, we consider this project competitive and are confident that in the near future it will take its rightful place on the Russian market," said Egor Beketov, CEO of the RVC Biofund.
One of the priority areas of Primbiomed's work is quality control of the reagents obtained. The quality management system of the existing production is built in accordance with the ISO13485 standard: the company's products meet both Russian and international standards. In addition, Primbiomed is currently the only Russian laboratory for the production of antibodies for the IHC diagnosis of tumor diseases, which has a quality control system that meets international standards.
About the RVC Biofund
In June 2010, the Board of Directors of the Russian Venture Company approved the concept of the RVC Biofund. In early 2011, the foundation began its activities. The investment focus of the RVC Biofund covers innovative biopharmaceutical companies and service companies providing contract laboratory, analytical and consulting services to biotechnological, pharmaceutical and medical companies.
About PrimeBioMed
PrimeBioMed LLC is one of the first Russian companies professionally engaged in the development and manufacture of antibodies and innovative diagnostic systems based on them. Founded in July 2013 as a Biofund portfolio company, with the participation of RVC capital.
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