Russian Firms Establish Joint Biotech Venture
Russian pharmaceutical firms have collaborated to establish a joint venture with the aim of developing innovative treatments.
The SynBio project, started by Russia's largest biotechnology firm Human Stem Cells Institute (HSCI), also comprises the government-owned investment company Rusnano as well as Russian pharmaceutical firms Cryonix and Pharmsynthez.
HSCI will hold a 28.1% stake in the venture, whereas Rusnano will retain a 41.4% holding.
SynBio will focus on developing treatments across three technological platforms, including cell-based technologies to treat chronic diffuse liver disease, a cancer treatment based on the human nuclear protein histone H1, and sustained-release drugs for the treatment of diabetes, Alzheimer's and chronic kidney disease, known as 'biobetters'.
The total four-year budget of the project stands at approximately $113m.