Russia and South Korea will jointly develop biotechnology R&D

25 September 2018

GMP News

The Russian Direct Investment Fund (RDIF), the sovereign fund of the Russian Federation, JSFC Sistema, Russian publicly traded diversified holding company, the Medsi Group of Companies, a part of JSFC Sistema, have agreed with the South Korean company Green Cross Cell to develop jointly biotechnology in Russian Federation.

They signed corresponding agreement of intent during the Eastern Economic Forum. Green Cross Cell, one of South Korea’s leading biotechnology companies, specializes in research, production and sales of anti-cancer drugs based on cell therapy. In the near future, the parties intend to prepare and approve a road map that determines further steps to implement the signed agreement.

Kirill Dmitriev, Director General of the Russian Direct Investment Fund (RDIF), said:

“The project to establish the most advanced genetic laboratories and clinics in Russia is part of the strategy of the Russian Direct Investment Fund, which involves investing in projects aimed at improving the quality of life of Russian citizens and delivering world-class health care in Russia. RDIF portfolio already contains a number of projects contributing to the achievement of this goal. We welcome the participation in the project of leading Korean companies that are ready to bring their unique developments in genetic research and advanced medical technologies in Russia.”

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