Pharm-Sintez.Lab, a Russian company and resident of Skolkovo Innovation Center, has developed peptide precursors, the chemical substances used to detect neuroendocrine tumor (NET), a rare type of cancer, and prostate cancer.
The product developed by Pharm-Sintez.Lab is less expensive and has higher quality than its foreign analogs and it is already supplied to a hospital in St. Petersburg.
In the next five years, this resident of Skolkovo Innovation Center intends to capture 10% of the international market for precursors used in the detection of neuroendocrine tumors and prostate cancer. To do this, Pharm Sintez JSC plans to invest up to 20% of its annual revenue in R&D over the two years. The company is also negotiating with potential customers of indicators in India, Germany, and Hungary.
Lev Voloznev, CEO of Pharm-Sintez.Lab LLC, said, “At this point, the leader in the global market of substances used for detection of various malignant tumors, including neuroendocrine tumors, is ABX, a German company. Confirming the diagnosis of NET with precursors manufactured by that company will cost about 4-6 thousand euro without taking into account the flight costs and accommodation in a European clinic, since it would be not easy to find such indicator in Russian hospitals. The product of Pharm-Sintez.Lab makes affordable the rare types of diagnostics in Russia, as the entire diagnostic procedure currently costs about 60 thousand rubles. Moreover, in this case, the full cycle of development, synthesis, and manufacturing is carried out in Russia. We hope for the fast inclusion of this type of diagnostics into the federal standards and recommendations, so that the patients can receive this service free of charge through the funding provided by the fund of compulsory medical insurance and high-tech medical care.”