Investment firm Russian Venture Company Biofund and Quintiles, a Moscow-based biopharmaceutical services company, have signed a deal to support expansion of clinical development services companies within the Russian Federation.
The partnership is designed to create high-technology services companies to advance biopharma, using RVC Biofund venture capital investments. Established last year by Russian Venture Company, a government fund of funds and a development institute of the Russian Federation, RVC Biofund aims to invest into innovative biopharma and service startups providing contract, laboratory, analytical and consulting services to biotech, pharmaceutical and medical companies.
With Quintiles, the fund will work to address Russia’s healthcare initiatives in accordance with its Healthcare 2020 Development Program, which also aims to implement best practices to support medical science and the development of healthcare in line with international standards.
Quintiles and RVC Biofund will announce plans for specific joint ventures in the near future.