SynBio, Rusnano hematology, endocrine/metabolic, infectious news
The state-funded $10 billion nanotechnology fund Rusnano followed up on an August commitment and invested RUB900 million ($28.7 million) in biobetters company SynBio. The investment represents a 41.4% stake. SynBio is a JV formed this year by a group comprised of the fund, Russian firms the Human Stem Cells Institute (MICEX:ISKJ, Moscow, Russia), Pharmsynthez JSC (MICEX:LIFE, St Petersburg, Russia) and Cryonix CJSC, U.K.-based company FDS Pharma LLP and Pharmsynthez Chairman Dmitry Genkin. The JV is slated to run for seven years, with a budget of RUB3.2 billion ($115 million). In August, Rusnano committed to provide RUB1.3 billion ($46.7 million), while the other founders will co-invest the remaining RUB1.9 billion.
SynBio is partnered with Xenetic Biosciences plc (LSE:XEN, London, U.K.) to develop polysialic acid-enhanced long-acting versions of epoetin alfa for anemia, insulin for diabetes, interferon alfa for HCV, G-CSF for neutropenia and somatropic hormone for growth hormone deficiency. The companies will also develop products for blood cancers and ischemic diseases based on recombinant human histone H1.3 technology, which Xenetic is gaining through its acquisition of SymbioTec GmbH (Saarbruecken, Germany). The acquisition is expected to close this month. ...