Wednesday, November 28, 2012

Rusnano Partners with U.S. Pharma Company, Selecta Biosciences

On Monday, Rusnano chief Anatoly Chubays welcomed American pharmaceutical company Selecta Biosciences, which opened a research lab in Khimki and moved its global top management to Russia as a sign of confidence in the country's potential for nanotechnology research.  "When we made the decision about investing in Selecta, we made the right choice," Chubais said. "It seemed to us that the company has unique technological capacity and that with time, as it develops, this startup will show very strong results." Selecta Rus, a Russian-based subsidiary of Selecta Biosciences, develops vaccines that are based on nano particles, and hopes to develop the first anti-smoking vaccine as early as 2016, said Dmitry Ovchinnikov, deputy general director of Selecta Rus.  Rusnano plans to invest up to $25 million in Selecta Rus, and is also providing administrative assistance to the startup.  Under a deal, Selecta Rus and Rusnano signed a year ago, the pharmaceutical company gets to keep the intellectual property rights to the vaccines and choose where to produce them. Rusnano would then get a share of the company's revenues, although the company's managing director, Dmitry Lisenkov, declined to reveal more specifics.

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