The Skolkovo Fund has approved a $5m grant to TheraMAB, innovation and venture news source UNOVA reports. The money will be reportedly spent on development of a medicine that can selectively modulate activity of T-lymphocytes for treating rheumatoid arthritis and some forms of oncohematological pathology. In the project, Russia’s experience in clinical research and medicine registration has been combined with European achievements in antibodies production.
Dmitry Tyrsin, CEO, TheraMAB, said that “we believe that Skolkovo’s support will enable the company to create an efficient world-class medicine.” According to Vladimir Tezov, CEO, Bioprocess Capital Partners, “five companies supported by our Fund have become Skolkovo residents, and four of them have received grants worth over $14.5m.”
TheraMAB was founded in 2009 by investment fund Bioprocess Capital Ventures, which had been set up in 2006 by Russian Venture Company and German biotechnological company TheraMAB GmbH.
TheraMAB's goal is to develop a medicine that can selectively modulate activity of T-lymphocytes. The new medicine will be used for treating autoimmune pathology (rheumatoid arthritis) and some forms of oncohematological pathology (B-cell chronic lymphatic leukemia).
The project is expected to facilitate a number of breakthrough technological developments, and help consolidate government and private resources in priority fields of science and technology in the Russian Federation. The project is expected to stimulate an increase in Russia’s share in global high tech exports.