Russian investment company RVC Biofund and global biopharmaceutical services provider Quintiles have signed an agreement on expanding clinical research services in Russia, NanoNewsNet reports.

The agreement between Quintiles and RVC Biofund falls into the federal Healthcare Development Program to run till 2020. Within a month the parties will announce specific plans on joint projects.

Egor Beketov, director of RVC Biofund, “The partnership will support establishing in Russia high-tech biopharmaceutical service companies, using RVC Biofund’s venture investment mechanisms.”

According to Sergey Borisov, CEO of Quintiles division in Russia, “Partnership with RVC supports Quintiles’ growth initiatives in Russia and brings the company’s New Health strategy in tune with the Russian federal Healthcare Development Program 2020”.

Igor Agamirzyan, CEO, the Russian Venture Company, “RVC Biofund was set up last year for investing into biopharmaceutical service companies and biotechnological startups, as well as maintaining ecosystem and growing the number of biotechnological projects. The deal between RBV Biofund and Quintiles demonstrates good case of international cooperation in this sector.”

Quintiles is the leading biopharmaceutical services provider in Russia, with headquarters in Moscow and additional offices in St. Petersburg and Novosibirsk. The company has been carrying out clinical research in Russia since 1996.