NovaMedica to build US$85m pharmaceutical plant in Kaluga region
Will manufacture pharmaceutical products and medical devices
NovaMedica pharmaceutical company, a subsidiary of RUSNANO and Domain Associates, has agreed with the Government of the Kaluga Region and the Administrative Board of the City of Kaluga to build a new US$85m pharmaceutical plant in the region.
Kaluga is 150km southwest of Moscow.
Built under a joint venture between Domain Associates, a US venture capital fund, which specialises in pharmaceuticals, and RUSNANO, a Russian government-owned investment company, the new high-tech pharmaceutical plant will operate to GMP standards and US FDA specifications in the Grabtsevo technopark (City of Kaluga).
The company says the new plant will be built on a 50,000m2 plot and provide more than 100 new jobs.
Scheduled to start on-site construction in the second half of 2013, the factory will focus on manufacturing new pharmaceutical products and medical devices.
The products or devices will be licensed to NovaMedica under a RUSNANO/Domain Associates Agreement and subject to joint financing of late-stage life sciences developments.
NovaMedica’s Chief Operating Officer Fabrice Egros said: ‘We believe that NovaMedica’s new GMP- and FDA-compliant production facilities will form a bridge between the researchers and clinicians of the most innovative products and unmet needs in the Russian market’ and bring ‘quick access to new and more effective treatments to Russian patients.’
