The production site of the Russian pharmaceutical company NovaMedica will be
chosen in the 1st quarter of 2013
*NovaMedica is a new pharmaceutical company, established as an integral
part of the $760 million collaboration between the Russian high-technology
investment fund RUSNANO and the American healthcare venture fund Domain
*NovaMedica was formed specifically to be the development, marketing and
operational arm, taking the highly innovative next-generation products
from the collaboration, and commercializing them in Russia and the CIS.
MOSCOW -- November 13, 2012
The identification of location of the production site of a new pharmaceutical
company, NovaMedica, a joint enterprise between the Russian high-technology
investment fund RUSNANO and the American venture healthcare fund Domain
Associates, will be chosen at the end of the first quarter of 2013.
NovaMedica was established in the frameworks of the cooperation agreement,
which was signed by RUSNANO and Domain Associates in March 2012. The
partnership involves joint investment in advanced medical technologies and
innovative drugs, and bringing these to market in Russia and the Community of
Independent States (CIS) for their development, manufacture, and
commercialization, including the creation of a GMP production facility.
“We are analyzing proposals concerning the location of our enterprise from
several specialized regional pharmaceutical clusters, and considering other
variants, - said Fabrice Egros, COO, Pharmaceutical Director and board member
of NovaMedica, - “Our selection will be finalized in the beginning of 2013,
taking into account an analysis of our technical criteria and compliance with
our corporate strategy“.
Fabrice also stated that NovaMedica's “backbone” is its team, including the
appointment of vice-presidents Mark Mugerditchian and Mikhail Getman.
Mark Mugerditchian has 33 years of experience in pharmaceutical industry, with
experience in design engineering, and product development and production, as
well as experience in management of pharmaceutical projects. Earlier he held
the position of the senior vice-president of Manufacturing and Product
Development at Sequel Pharmaceuticals and NovaCardia. He also held managerial
positions at Gensia Sicor where he was responsible for its contract
manufacturing business unit, and Dura Pharmaceuticals, where he developed its
project management infrastructure, and was responsible for launching of Dura’s
inhaled insulin program and managing pharmaceutical production. He also held
various production and engineering positions at Abbott Laboratories, Key
Pharmaceuticals and Fujisawa USA. Mark has a diploma in chemical science from
the University of Illinois, as well as additional degrees in corporate
Mikhail Getman from 1991 to 2012 held managerial positions both at Russian and
foreign pharmaceutical companies. From 2004 to 2007 he was an advisor to the
Head of the Federal Service for health and social development. While there, he
helped supervise the launch of DLO (the first Russian drug reimbursement
system), as well as administrative reform and improving administrative
practices. Mikhail has developed amendments to some Federal Laws and a number
of administrative Russian regulations related to pharmaceuticals, medical
devices and medical practices. He holds a Ph.D and a Pharm.D from St.
Petersburg Chemical and Pharmaceutical Academy.
RUSNANO was established in March 2011 as an open joint stock company through
the reorganization of the state corporation Russian Corporation of
Nanotechnologies. RUSNANO's mission is to develop the Russian nanotechnology
industry through co-investment in nanotechnology projects with substantial
economic potential or social benefit. The Government of the Russian Federation
owns 100 percent of the shares in RUSNANO.
About Domain Associates
Founded in 1985, Domain Associates, L.L.C. is a venture capital firm with an
exclusive focus on life sciences. With $2.4 billion of capital under
management, Domain is headquartered in Princeton, NJ with a second office in
San Diego, CA. Domain’s three major investment segments are pharmaceuticals,
specialty pharmaceuticals, and medical devices, while additional areas of
interest include biomaterials, bioinstrumentation, and diagnostics.
Elena Pochesneva, Director of public relations
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