Russias sovereign wealth fund 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.
Russia-Japan Investment Fund (RJIF) established by RDIF, the Japan Bank for International Cooperation and JBIC IG Partners). Previously, RDIF invested in the production and distribution of EMG test systems. A range of test systems has been adapted both for stationary laboratories and unique portable mini-laboratories (the size of a small suitcase) that can be used anywhere.
The recent investments and deals by RDIF in last two months are featured below:
- 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.
The Institute of Bioorganic Chemistry and Combiotech manufacture biomass to produce DNA polymerase – an enzyme which is one of the key components of the Russian-Japanese express testing system. Recently RDIF has invested in the production and distribution of the Russian-Japanese diagnostic system EMG – Evotech-Mirai Genomics, which is one of the worlds most accurate and fastest systems for the detection of coronavirus.
- In 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.
- In 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.