MOSCOW--(Marketwired - May 02, 2013) - ChemRar Ventures announced during BIO Convention in Chicago that the scouting agreement for a venture investment in Russia and Asia was signed between ChemRar Ventures and Sanofi. The Agreement envisages that ChemRar Ventures will be sourcing early and late stage compounds within a certain defined area of Sanofi's therapeutic interest and negotiating the potential pharma partnering engagement with Sanofi.
The agreement is signed for 18 months and may be extended thereafter. With over 20 years of experience in research in Russia ChemRar is well known for its history in designing and developing innovative drugs in a multitude of therapeutic areas. Working in the framework of this scouting agreement ChemRar will partner with a number of academic Institutions including Moscow Institute of Physics and Technology, Petrov's Institute of Oncology, Center of Endocrinology of the Russian Academy of Medical Sciences, UCSD, Scripps Research Institute, Salk Institute, Wi2 of University of Wisconsin, Fox Chase Cancer Center and others.
Nikolay Merkin, CEO at ChemRar Ventures, stated: "We are pleased with Sanofi's decision to look deeper into Russian science, and search for innovation in partnership with Russian Universities and biotechs. We are interested to further expand our joint venture pharma partnering relationships involving both publicly and privately funded organizations. We hope that this is a first step in fostering a platform for true co-investment, co-licensing and co-development collaborations with Sanofi. Those we achieved with other major corporate partners interested in leveraging their business on the high growing pharmaceutical markets."
About ChemRar Ventures
ChemRar Ventures is a Russian venture investment company, managing the diversified portfolio of investments in biopharma, diagnostics and medical device companies in high growth markets of Russia, EurAsEc and Eastern Europe.
About ChemRar HTC
ChemRar High Tech Center, a unique group of biotech, R&D service, manufacturing and venture investment companies developing and commercializing innovative treatments for unmet medical needs, including biopharma products medical devices and diagnostics for cardiometabolic, infectious diseases, oncology, hematology, reproductive health and CNS therapeutic area in Russia and worldwide. www.chemrar.ru