The Russian Direct Investment Fund (RDIF), the sovereign wealth fund of Russia, and Sistema PJSFC, a publicly traded diversified Russian holding company, have agreed with South Korean firm Macrogen to cooperate to develop the biotechnology sector in the Russian Federation following the Eastern Economic Forum.
Macrogen, whose technology has been supplied to more than 100 countries for the last 20 years, has world-class expertise in the area of genetic analysis, including gene and capillary sequencing, microarray, oligo synthesis and bioinformatics. According the trilateral agreement RDIF, Sistema and Macrogen plan to jointly create conditions for the practical implementation of these developments in Russia and to conduct further research.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), noted:
“RDIF actively deals with industry and strategic investors to attract the most advanced technologies and to implement projects. The area of genetics in science and medicine has already proved not only its prospects, but also its consistency. Together with partners, we see great opportunities for combining practices and effective commercial use of leading global achievements in this field. This allows us to create an infrastructure to improve the quality of life and healthcare of our citizens, as well as for subsequent breakthrough scientific discoveries.”
Artem Sirazutdinov, Chairman of the Board of Directors of the Medsi Group of Companies, said:
“Our strategy to grow our healthcare business envisions establishing a broad network of partners and working jointly with other companies in the industry. On the basis of the clinical capacity of Medsi’s medical chain, owned by Sistema, and leveraging leading international expertise, we are focused on bringing the most advanced biotechnology to Russia, and to improving diagnostics and treatment of socially significant diseases such as cancer. The expertise of Korean R&D centres, which have made considerable progress in the areas of gene and cell-based technologies, will be extremely useful, including in the development of new targeted cancer therapies.”
Kap-seok Yang, CEO of Macrogen Inc, said:
“Sistema leads Russian healthcare market with its affiliate company, Medsi. And Macrogen is proud to be a part in multipartite R&D partnership with Sistema and RDIF. The partnership seems promising for the successful market access in Russia. With years of experience for genetic sequencing and analysis service, Macrogen aims to be the best partner to enhance total quality of life in Russia in terms of precision medicine along with clinical diagnostics and big data. That is only possible through collaboration encompassing from A to Z in healthcare industry.”
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