San Diego-based life sciences investor Domain Associates has inked a unique lifeline for the later stage life sciences companies its its portfolio: it's brokered a deal worth more than $760M, to help fund its portfolio firms from the Russian government. According to Domain and Russian, government-backed venture capital firm RUSNANO, the two have inked a partnership where they will jointly invest in emerging life sciences technology companies, foster transfer of technology into Russia, and establish manufacturing companies in Russia.
According to the two companies, the deal includes establishing a pharmaceutical and medical device manufacturing facility in Russia that meets GMP standards, which will go to produce products for treatment of medical conditions including viral infections, cardiovascular diseases, cancer, and others. The deal helps solve a big issue for Domain and other venture firms, which is accessibility to later stage investments for life sciences companies, who often require very large investments to complete clinical trials and to receive FDA approval. The Government of the Russian Federation owns 100 percent of the shares in RUSNANO.