National Immunobiological Company (Nacimbio), a part of Rostec Corporation, established a joint venture with Ishvan Pharmaceutical Ltd (UAE). Pharm Aid Ltd will manufacture combined and immunobiological medicinal products in Russia.
Nacimbio holds a 49% stake in Pharm Aid Ltd, while the share of Ishvan is 51%. Kirill Mizerov was appointed the General Director of the new company. The company will be engaged in the transfer of technology for manufacturing new combination medicinal products and active pharmaceutical substances for the treatment of hepatitis C, HIV and tuberculosis. In addition, there will be a transfer of technology for manufacturing vaccines, biologics and biosimilars.
“We are happy to announce the launch of joint operations by Nacimbio and Ishvan Pharmaceutical Ltd. We are currently involved in ongoing negotiations with potential partners for the transfer of technology and expect first results of Pharm Aid Ltd as early as in September 2017,” said Kirill Mizerov.
Sanjeev Nanda, the Managing Director of Ishvan Pharmaceutical Ltd, said, “The pharmaceutical market in Russia is developing dynamically, and we have been long looking for a reliable Russian partner. In our opinion, the cooperation with Nacimbio opens for us new and interesting prospects. The company has a professional team with high research potential, and it is well known in the industry. A joint venture with Nacimbio will allow the market launch of Russian-made drugs, that previously had no analogs.”