At the BIO International Convention, Pfizer Inc. and Russian pharmaceutical investment and R&D group ChemRar High Tech Center (ChemRar) announced that they will collaborate on research, development and commercialization of innovative drugs in Russia and other countries.
The two companies will explore opportunities for accelerated development and commercialization of certain compounds from Pfizers pipeline, through technology transfer and out-licensing deals with venture funding. The companies plan to develop compounds and vaccines to treat patients with cardiometabolic, infectious and oncology diseases. These health conditions are a high priority for the Russian Federation healthcare system, according to a statement from the companies.
The companies will further collaborate with other potential partners, including the Moscow Institute of Physics and Technology, the Skolkovo Foundation and other members of the Russian Biopharmaceutical Cluster "Northern," created under the Federal Target Program of the Ministry of Industry and Trade of the Russian Federation.
"We see Russia as a potential leader in the innovative pharmaceutical, biotechnological and nano-technological areas," said David Simmons, general manager, Emerging Markets and Established Products, Pfizer. "The Pharma 2020 Strategy driven by the Russian Government creates favorable conditions for transition of the Russian pharmaceutical industry to the innovative development model."
As part of its investment strategy in Russia, in March 2011 Pfizer announced the agreement with Russian biopharmaceutical company Petrovax Pharm to manufacture Pfizer's pneumococcal vaccine in the Moscow region.
