Domain Associates LLC, Rusnano pharmaceuticals news
NovaMedica (Moscow, Russia), a 51/49 JV between U.S. life sciences VC firm Domain Associates and Russian nanotechnology fund Rusnano, announced it appointed Fabrice Egros as COO, pharmaceutical director and a board member. Egros previously held managerial positions at UCB Group (Euronext:UCB, Brussels, Belgium).
The JV is part of the March investment partnership between Rusnano and Domain Associates to invest about $760 million into a portfolio of about 20 U.S.-based healthcare companies as well as establish a JV to market the companies' products in Russia. NovaMedica will manufacture and market products in the Commonwealth of Independent States (CIS) and will also manage late-stage clinical trials in the territory. NovaMedica, which declined to disclose the amount each investment partner contributed to the JV, said it will license exclusive, Russian commercialization rights to products from the portfolio of U.S.-based companies (see BioCentury, March 12). ...