Rusnano to Bring New Drug Manufacturing to Russia
Rusnano plans to team with U.S. investor Domain Associates in coinvest-ing in about 20 U.S.-based health care technology companies. Rusnano will invest up to $330 million, while Domain’s venture capital funds and other investors will invest a comparable amount. Additional funds will be used to establish a pharmaceutical and medical device manufacturing facility in Russia, where products created by the recipients of Rusnano’s investments will be manufactured.
SOURCE: Reuters, March 6, 2012, and Appendix E.5.
funds will be used effectively in enhancing the nation’s research capabilities in the near term.
Finally, as previously discussed, the Skolkovo Foundation has engaged the Massachusetts Institute of Technology to contribute to the design and establishment of a new high-technology university that is to become one of the anchors at Skolkovo, near Moscow. At Skolkovo, Russia hopes to replicate important aspects of Silicon Valley. Strong universities have been important components of successful technoparks in Russia and in many other countries, although the planned scale of activities at Skolkovo far exceeds similar efforts in other parts of Russia. Biomedical research is one of five key areas of interest. (See Appendix E.4.)
Summarizing, the two governments can provide incentives for individual scientists, research teams, and commercial organizations to explore and propose new topics for bilateral cooperation. In principle, cooperation can be a driver of innovation that results in profit, particularly in Russia, where efforts to penetrate international markets have almost always encountered difficulties. Small- and medium-sized companies, in particular, need special encouragement to use their entrepreneurial skills in bringing new products to market. Thus, cooperation will require strong government involvement for years into the future.
The value of applied science to government agencies in both countries and to the general public should not be underestimated. Every day, policy makers, regulators, and researchers rely on up-to-date scientific information that affects their responsibilities. Every day the general population awaits the miracle drug, the strength-enhancing nutrient, and the harmless-to-humans repellent of undesirable insects. Thus, cooperation should serve both the public and the private sectors,