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Quintiles Partners with Russian Investment Firm

Will expand clinical development in Russia

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Quintiles and Russian Venture Company Biofund, a Russian-based investment firm, have entered an agreement to support expansion of clinical development services in Russia.

The two companies will work to address Russia’s healthcare initiatives in accordance with its Healthcare 2020 Development Program. This will include implementing best practices to support medical science and the development of healthcare in line with international standards.

“With a population of almost 140 million, Russia is under-represented in terms of clinical development activity and over-represented in term of unmet medical needs,” said Ben Cons, global vice president, Quintiles Corporate Development. “Quintiles’ goal is to address both of those issues in partnership with RVC Biofund, which has experience in starting businesses in Russia and capital to invest in the biopharma sector.”

Egor Beketov, chief executive officer of RVC Biofund, said, “This partnership will help create high-technology services companies within the Russian Federation to advance biopharma, using RVC Biofund venture capital investments. With Quintiles, RVC Biofund gets a partner with the global resources and expertise to further expand development capabilities in Russia.”

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