12 November 2012

Russian pharmaceutical company NovaMedica opens its U.S. office in Princeton, New Jersey

Moscow - 12 November 2012 – NovaMedica, a company whose mission is to commercialize highly innovative pharmaceutical products in Russia and the CIS, today announces the opening of its US office. 

NovaMedica is a newly established pharmaceutical company created by the Domain Associates, a leading US life sciences venture capital firm and RUSNANO, a Russian high-technology investment fund. The partners have committed to invest in emerging companies, developing innovative pharmaceuticals, devices, and diagnostics, and bring these products to the markets in Russia and the Community of Independent States (CIS). The total budget of the program is $760 Million USD, and includes the creation of a state of the art manufacturing facility. NovaMedica was formed to exclusively commercialize the highly innovative products coming from this partnership that have significant value in the Russian market. 

“With many products set to move into NovaMedica from the Domain family of companies, we believe NovaMedica is uniquely positioned to facilitate innovative drug development and accelerate corporate growth. Our company is simply the partner of choice for Russia and CIS”, - said COO, Pharmaceutical Director and board member of NovaNedica Fabrice Egros, - “The opening of the US office will allow for efficient and rapid interactions with our current and future partners.” 

Headquartered in Moscow (Russia), the new US office has been established in Princeton, New Jersey. Mary Anderson will lead the company's business development efforts in the US office. 

Ms. Anderson has over 22 years of international licensing and business development experience, in-licensing innovative products at all stages of clinical development as well as marketed products. Prior to coming to NovaMedica, Ms. Anderson’s experience included five years as Head of Licensing and business development for the oncology division of Merck KGaA, the global pharmaceutical and chemical company. She also played an integral role in Merck's €10.6 billion purchase of Serono, the biotech firm headquartered in Geneva Switzerland. 

RUSNANO was established in March 2011 as an open joint stock company through the reorganization of the 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. 

Founded in 1985, Domain Associates, L.L.C. is a venture capital firm with an exclusive focus on life sciences. With $2.4 billion of capital under management, Domain is headquartered in Princeton, NJ with a second office in San Diego, CA. 

Source: NovaMedica