RMI Partners, a Russian venture company and one of the largest investors in Russia and Eastern Europe in the area of biotechnology, announced its participation in the next round of investments into Celtaxsys, a company that develops new methods of treatment for rare diseases like cystic fibrosis.
“There are more than 70,000 patients with cystic fibrosis in the world, including about 3000 in Russia,” said Maxim Gorbachev, the Managing Partner at RMI partners. “We believe that, in case of successful clinical trials, Acebilustat, which is being developed by Celtaxsys, will help doctors to cover a significant unmet need in the treatment of inflammation in patients with cystic fibrosis, that usually results in respiratory failure and lung injury, which are the main causes of mortality. The urgency of R&D is underscored by the fact that currently there is no approved anti-inflammatory therapy for these patients.”
New round of investments is intended to accelerate phase III clinical trials of the drug which, if successful, will facilitate bringing this important medicinal product to the market.
Acebilustat has already received the status of orphan drug in the United States and Europe.
The exclusive rights for commercialization and distribution of Acebilustat in Russia and CIS are held by NovaMedica, a Russian pharmaceutical company and subsidiary of RusnanoMedInvest, a venture fund.