By: Andrey Leonov, Incuron, LLC on January 18, 2012
As part of the Russian government’s efforts to encourage breakthrough science and innovation, Incuron is proud to be one of the most recent recipients of a $5 million grant from the Skolkovo Fund. A government initiative aimed at encouraging breakthrough science and innovation in technology, Skolkovo not only invests in science-based projects, but also provides the non-monetary and organizational support required for research growth.
Incuron is a joint venture between Russian venture fund “Bioprocess Capital Ventures” and U.S. biotechnology company Cleveland BioLabs (CBLI). The venture invests in innovative projects within Russia’s pharmaceutical, biotechnology and chemistry sectors through a unique two-country model that facilitates product commercialization by promoting the parallel development of promising leads in both Russia and the U.S. Our mission at Incuron is to perform the preclinical and clinical development activities necessary to bring breakthrough biotechnologies to both markets based on the belief that finding the cure for cancer is a universal mission that requires international cooperation.
Our team is comprised of professionals with decades of pharmaceutical and biotech sector experience. All of our team members were born in the former USSR and are highly qualified, receiving Ph.D’s in chemistry, biology or medicine and authoring more than 500 scientific papers, patents, and regulatory documents. In addition, our specialists have all been trained in large pharmaceutical companies and Western laboratories.
International cooperation in action
The Skolkovo grant will go toward the development of curaxins, a new class of oncological drugs effective at fighting a broad range of cancers. Skolkovo will arrange for a special “freeway” to minimize potential delays caused by regulatory issues or registration procedures, allowing the U.S. and Russia-based parts of the Incuron team to be fully synchronized. In addition, Skolkovo will facilitate access to databases and publications related to Incuron’s area of interest and support its participation in related international conferences, scientific forums and partnerships.
Pharma 2020
Incuron’s Skolkovo grant is part of the Russian government’s Pharma 2020 Strategy to encourage growth in the Russian pharmaceutical industry. Under the plan, the government is helping local companies boost production of innovative drugs by covering the costs of R&D. In doing so, the Russian government hopes to foster the development of new companies that will be capable of attracting investment, creating new jobs and producing competitive, safe, high quality and affordable products for patients.
If the progress continues in the Russian pharmaceutical industry then by 2020, the local industry could be responsible for 50 percent of drugs in circulation, 80 percent of which would be domestically-developed. While the strategy will require a great deal of investment from the federal budget, the government is also trying to attract funds from international pharmaceutical companies. Significant improvements have already been realized as the industry grew by 17.5 percent in 2009 and is expected to reach a value of $10.7 billion by 2014.
Looking forward
Incuron scientists from both Russia and the U.S. look forward to continued successful collaboration aimed at the development of breakthrough anti-cancer technologies. The Skolkovo grant is an indication of the strong potential of this venture, which sets an example for successful cooperation between investment capital and science from two continents.
Incuron is just one of the many ventures demonstrating the possibilities of the burgeoning pharmaceutical industry in Russia. With more cross-border investments, joint-projects and Russian government support, the Russian pharmaceutical industry can reach its full potential.
Andrey Leonov is chief executive officer of Incuron, LLC.
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