Russia fund in consortium to back U.S. pharma firms

Print 20 December 2012
Megan Davies, Reuters

MOSCOW, Dec 19 (Reuters) - Russian state technology firm Rusnano, alongside a group of investors, is investing $93 million in three U.S.-based pharmaceutical firms to develop drugs to treat illnesses such as epilepsy, the investors said on Wednesday.

Rusnano is making the investment with U.S. venture capital fund Domain Associates and other investors. Rusnano partnered with Domain in March with plans to invest around $760 million in U.S. healthcare and parmaceutical firms to bring new drugs to the Russian market.

The three companies receiving investments - Marinus Pharmaceuticals, Lithera and Regado Biosciences - are portfolio companies of Domain and the investments will be used to register medications and undertake further clinical trials in the U.S. and Russia, the companies said.

Marinus is developing a drug for the treatment of epilepsy, Lithera works on products for aesthetic medicine and ophthalmology and Regado is developing antithrombotic products.

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