BIOCAD and Gem-Standard increase financing for projects at St Petersburg SEZ

On August 30, the Expert Council of Special Economic Zone (SEZ) ‘St. Petersburg’ approved the amendments for two ongoing projects of the existing SEZ residents – CJSC Biocad and Gem-Standard LLC.

Thus, the volume of investments of the company Biocad under the project increases from 1.965 billion rubles, that were declared at the moment of obtaining the status of resident in 2010, to 23.1 billion rubles. This is due to the addition of the second stage of the enterprise to the the construction project and a significant increase in annual costs for R&D. Now, the second stage of the company on the Neudorf site is in the active stage of construction, commissioning is scheduled for the 1st quarter of 2019, the investment in the facility is about 3 billion rubles.

On the leased land plot of 4.86 hectares, the company creates a pharmaceutical complex for the development and production of biological substances and finished biological medicinal products, including those that do not have analogues produced in Russia.

The cost of the Gem-Standard project for the establishment of an experimental and production complex for the development and production of innovative drugs from human blood plasma based on nanotechnology solutions will also increase from 865 million rubles to 4.3 billion rubles. The resident also shifts the terms of the project from the end of 2014 to 2020. The company leases 4.11 hectares of land.