The RVC BioFund increases its stake in PrimeBioMed company

The BioFund of RVC (Biopharmaceutical Investments of RVC LLC) increased its stake, from 54.44% to 69.48%, in PrimeBioMed, a research and production company which accumulates achievements in the field of molecular and cellular diagnostics. Shortly before, the portfolio company increased its authorized capital.

To date, the total investment of Biofund has exceeded 50 million rubles; besides, private investors invested additional funds in PrimeBioMed.

The services provided by PrimeBioMed include development of diagnostic reagents and tests of LFIA, EIA, ICC and IHC, contract production of test systems for in vitro diagnostics, development and contract production of antibodies. Other products offered by the company are monoclonal and polyclonal antibodies, detection systems and auxiliary reagents.

"Our investments in PrimeBioMed are an important component of the strategy of RVC's Biofund which is aimed at the development of innovative diagnostic methods and their speediest introduction into the routine practice of the Russian healthcare system," commented Vladislav Fedotov, Chief Operating Officer and deputy director of RVC subsidiary funds. As an early-stage venture investor, BioFund eliminates the main technological risks of such developments, while the strategic investor is given an opportunity to commercialize the product in the future, and Biofund receives its profit upon the sale of its share."

PrimeBioMed is a Russian company engaged professionally in development and production of antibodies and innovative diagnostic systems on their basis. Founded in 2013 with the support of RVC Biofond, it has the status of a Skolkovo resident.