Central regions | Real estate | Industry, manufacturing
Kaluga eyes new site to produce FDA-approved innovation drugs
29 Jul '13
The Kaluga region in Central Russia, the city of Kaluga and NovaMedica, a young Russian pharma, have agreed to build a new pharmaceutical factory in the area, Rusnano reports.
The new project is part of a joint effort between Rusnano, Russia’s largest nanotech company, and Domain Associates, a leading US-based VC fund. NovaMedica is a year-old subsidiary of the Russian and American partners in the effort.
The factory is expected to manufacture innovation drugs and medical products that will be authorized for Russia-based production within the framework of Rusnano and Domain Associates’ broader joint program designed to fund pharma and biomed projects at advanced stages of research.
Under the terms of this most recent agreement, the partners will build in Kaluga’s Grabtsevo Techno-park a high-tech pharmaceutical production line to comply with the GMP standards. It is expected to be sophisticated enough for its products to be approved by the U.S.’ Food and Drug Administration (FDA).
This $85m factory is also expected to create more than a hundred new local jobs.
The production facility will break ground later this year, Rusnano said.