Rusnano intends to invest $40.5m into a complex to produce pharmaceuticals with nano-carriers from porous silicon and other nanomaterials in Kirov region, innovation and venture news source UNOVA reports.

Under plans, the complex will produce three groups of pharmaceuticals – solid medicine forms with prolonged action (including the ones for treating cardiovascular diseases, anti-cancer and anti-virus medicines), vaccines and organogels.

Total project investment is estimated at $130m. Its initiator and co-investor is the company Epidbiomed that has been working at the Russian market since 1991. The project company Nanolek has been set up for the project.

According to the business-plan, the expected revenue in 2017 on three groups of pharmaceuticals will reach about $316m. Under Rusnano’s experts assessment, the market of the project’s products currently exceeds $3.8bn and in the next years will grow by average 10%.

For the project the parties will set up the science and production complex, including the science and research center with pilot-industrial production, in Kirov region.

RUSNANO was established in March 2011 as an open joint-stock company through reorganization of state corporation Russian Corporation of Nanotechnologies.

RUSNANO's mission is to develop the Russian nanotechnology industry through co-investment in nanotechnology projects with substantial economic potential or social benefit. The Government of the Russian Federation owns 100 percent of the shares in RUSNANO. Anatoly Chubais is chairman of the Executive Board of RUSNANO.

100% shares in RUSNANO are owned by the state. As Marchmont wrote earlier, 10% shares in Rusnano are to be privatized by 2013, and up to 30-40% are to be placed at a public market by 2016.