Russias sovereign wealth funds the Russian Direct Investment Fund (RDIF) announce a partnership with R-Pharm Group as part of joint efforts to combat coronavirus infection and produce the first Russian vaccine with high export potential.
- As part of the joint venture, a modern biotechnological production facility will be constructed in Yaroslavl to manufacture active pharmaceutical ingredients and finished dosage forms.
- There will also be potential to export products to the Middle East and other countries in the future.
- The drug is currently manufactured and labeled at the production facility of the R-Pharm Group in Yaroslavl.
The recent investments and deals by RDIF in last three months are featured below:
June 2020: Russian Direct Investment Fund (RDIF), announces a strategic partnership between its portfolio company Doctis and Mail.ru Group, Russias leading internet and IT-company.
May 2020: RDIF announced that Russia-Japan Investment Fund (RJIF), joins the investment in the Russia-Japan coronavirus diagnostics system EMG Evotech Mirai Genomics. EMG is one of the worlds fastest and most accurate systems and able to detect the virus in few minutes.
April 2020: The Russian Direct Investment Fund (RDIF), announced the production of a first batch of 200 litres of cell culture fluid biomass in partnership with the Russian-Japanese company EMG. This will enable EMG to produce up to one million high-quality rapid tests for the detection of COVID-19.
March 2020, The Russian Direct Investment Fund (RDIF), announced its supports to MD Medical Group (RDIF portfolio company) to start treating patients with pneumonia symptoms, including patients with coronavirus symptoms, at its clinical hospital Lapino.
March 2020, The Russian Direct Investment Fund (RDIF), RUIE (the Russian Union of Industrialists and Entrepreneurs), Yandex and Mail.ru Group announced the creation of an alliance against coronavirus (COVID-19).
Moscow based Russian Direct Investment Fund (RDIF) is Russia’s sovereign wealth fund. RDIF was founded in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. It has implemented almost 70 projects in partnership with foreign entity. RDIFs portfolio of companies employs approximately 800,000 people and generates revenues which equate to over 6% of Russias GDP.