RVC Biofund invests in PraymBioMed

Opening of the first Russian laboratory for the production of antibodies for the diagnosis of cancer and the development of diagnostic systems based on them - PraymBioMed, - took place on December 4 in the "Slava" tech park. PraymBioMed is a portfolio company of the RVC Biofund. The main consumers of PraymBioMed products are diagnostic and research laboratories, medical centers, manufacturers of products based on antibodies. The volume of investments required for the implementation of all activities of the company amounted to over 110 million rubles. The partner in the project is the US biotechnology company Gemened Biotechnologies Inc (CA, USA). The opening ceremony was attended by the deputy head of the Department of Science, Industrial Policy and Entrepreneurship of Moscow, Grigory Senchenya.

The key activity of the company is the production of antibodies that can used for diagnosing cancer, as well as forecasting and evaluating the effectiveness of treatment. Apart from production activities PraymBioMed assists in realization of scientific projects and educational programs in the field of biotechnology.

"Fundamentals of immunodiagnostic of cancer were laid down by the Russian scientist, academician Harry Abelev who discovered the world's first molecular marker of tumours in the early 60's of the last century. In the 70s and 80s in the USSR there was developed a large number of diagnostic tests based on antibodies which are still successfully produced abroad. In the 90s the leading positions of Russia in the field of biotechnology have been lost. One of the goals of foundation of the PraymBioMed Company is the revival of the Russian potential of development and production of reagents for immunodiagnostics which meet the latest standards. We are not only using Western technologies reducing Russia's dependence on foreign products, but also help Russian scientists to implement their developments and make them available for clinical use," – says Alexey Grachev, CEO of PraymBioMed.

Today the domestic markets of diagnostic products containing antibodies and research antibodies are almost completely occupied by foreign manufacturers. The Russian market of antibodies in the field of diagnostics of cancer is about 800 million rubles (3% of the world market). Today in Russia there are no companies that use an integrated approach to work with antibodies - from production, development, modification and testing to humanization. Against the background of the optimization mode of health financing and research programs import substitution goods acquire a specific role.

"Substitution of imported component base is one of the key directions of industrial policy of the city. The technoparks of the capital offer comfortable environment for launch and development of high-tech production of a wide range of import-substituting products," – said Deputy Head of the Department of Science, Industrial Policy and Entrepreneurship, Gregory Senchenya.

Production facilities of the company are able to fully satisfy the needs of domestic medical institutions in the reagents without the use of import analogues. Over the next five years PraymBioMed plans to occupy up to 60% of the Russian market of antibodies for the diagnostics of oncological diseases. According to specialists of the laboratory these plans are quite feasible due to the advantages over foreign companies of similar profile. In particular, the products by PraymBioMed have a lower price in comparison with Western analogues while preserving the quality since the Russian "address" allows to optimize the costs associated with delivery and to simplify the accounting statements, and the absence of customs clearance not only saves funds but also time for promotion of products on the market.

The fight for market involves competition not only with foreign but also with domestic companies producing antibodies. The undoubted advantage of PraymBioMed in this case is the broader range of offered diagnostic reagents, including those for the diagnosis of oncological diseases. In addition, thanks to the cooperation with the American Genemed Biotechnologies Inc, the portfolio company of RVC Biofund provides the highest technological level of production.

"The PraymBioMed project – is an organic fusion of technological, expert, organizational and investment competences. The project is aimed at solving an important and ambitious task – to create in Russia a unique biotechnological production of medical devices not inferior in quality to the best Western analogues. We, as investors, believe this project to be competitive, and are confident that it will soon occupy a worthy place on the Russian market" – said Egor Beketov, CEO of the RVC Biofund.

One priority area of work of PraymBioMed is control of the quality of the reagents. The quality management system of the existing production was built in accordance with the standard ISO13485: the products of the company meet both domestic and international standards. In addition, PraymBioMed is currently the only Russian laboratory for the production of antibodies for IHC diagnostics of tumour diseases which has a quality control system that meets international standards.