Moscow and federal funds invest in biosolutions for diagnostics and research

Print 01 October 2015
MarchMont Innovation News

The Moscow Seed Fund and the RVC Biofund, an investment arm of RVC, Russia’s fund of funds for innovation, have anted up $180,000 in Central Factory of Prepared Solutions (CFPS), a Russian company, the RVC website  announced . 

CFPS is Russia’s pioneering company to set up innovation production of ready-to-use microbiological nutrient solutions for medical diagnostics and research labs, which is said to meet international standards and is expected to help supplant imports from the Russian market. The CFPS solutions are used in identifying a disease, monitoring production space cleanliness at pharmaceutical and cosmetic factories, etc. 

The investment will reportedly be used to increase the company’s product line, using domestically made raw materials exclusively. So far CFPS has been active in Moscow predominantly; with the new funds it expects to expand in Russia’s regions and boost sales there. 

According to Stanislav Goldberg, one of the project masterminds, CFPS’ Russian market share “tops 80% in a number of segments.” 

Central Factory of Prepared Solutions was set up two years ago. RVC was a co-investor, with Israel’s Novamed providing technology to start with.

Source

Return