23-Apr-2010 - Affitech AS

Affitech Signs Strategic Alliance with Russian Biotech Partner

NauchTekhStroy Plus (NTS Plus), a newly formed joint venture subsidiary of Pharmstandard will conduct clinical development and registration of two Affitech antibodies for Russian and CIS markets. NTS Plus will pay €23 million in fees and advanced royalties to Affitech. Pharmstandard will commercialise these antibody products in Russia and CIS. Russian Investor, Trans Nova Investments, becomes majority shareholder in Affitech by subscribing for €20.9 million in new Affitech shares.

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    OJSC Pharmstandard

    Pharmstandard is the leading Russian pharmaceutical company. Pharmstandard portfolio includes over 200 products used in the treatment of diabetes, growth hormone deficiency, cardiovascular diseases, gastroenterological and neurological disorders, infectious diseases, cancer, etc. Over 90 pr ... more