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Rusnano and VC fund to invest $760mln, boost Russian drugsRussian state technology firm Rusnano is teaming up with a U.S. venture fund in a deal to invest around $760 million in a number of U.S. healthcare technology companies, establish a manufacturing facility in Russia and bring new drugs to the Russian market.
As part of the deal, Rusnano and life sciences technologies investor Domain Associates are planning to co-invest in about 20 US-based healthcare technology companies . Rusnano will invest up to $330 million while Domain's venture capital funds and other investors will invest a like amount, the companies said.
The remainder of the money will be used to establish a pharmaceutical and medical device manufacturing facility in Russia. At this facility, products will be manufactured that have been created by the companies the pair invest in.