Vnesheconombank continues to invest in biopharmaceuticals

About two years ago Vnesheconombank has financed a project to build a plant for the production of antibiotics and anti-cancer drugs in the Lipetsk region.

Now, according to Farmvestnik, the state corporation "Bank for Development and Foreign Economic Affairs (Vnesheconombank)" will finance the construction of a plant for the production of innovative biotechnological drugs "Fort" in the Ryazan region. The project is being implemented by RT-Biotechprom together with Fort LLC.

The total investment in construction is estimated at more than 4.8 billion rubles. The enterprise will be put into operation in 2013, the output to the production capacity is planned for 2015. The project provides for a full production cycle, starting with the release of substances.

RT-Biotechprom OJSC (established in 2009) is a holding company of Rostechnologies Group operating in the field of industrial biotechnology, pharmaceuticals and medical equipment. The participation of Rostechnologies Group and Vnesheconombank in the Fort project is carried out within the framework of the Protocol of Intent signed in September 2010 at the Baikal Economic Forum, providing for cooperation between the parties on the implementation of investment projects and programs, including in the biotechnological, medical and pharmaceutical industries.

Fort LLC specializes in the development and production of substances for drugs and drugs for the treatment and prevention of socially significant and rare diseases, and is also engaged in the development of cellular, nano- and biotechnologies in medicine.

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21.11.2011