The largest pharmaceutical producer invested in a startup with Voloshin's capital

Pharmstandard put $1 million into the company Genotek, which is engaged in DNA research. Among the shareholders of the company are the former head of the presidential administration Alexander Voloshin, co-owner of the agricultural holding Rusagro Maxim Basov and a partner of Safmar Ventures.
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Russia's largest producer of medicines Pharmstandard has invested $1 million in Genotek company that specializes in genetic research. This is stated in a joint statement by the companies (at the disposal of RBC). Round investment was closed on December 30, 2016, explained the representative of the Medical Genetics Center. Chairman of the Board and General Director of Pharmstandard Viktor Haritonin entered the Genotek board.

The management of Pharmstandard was not the first to become interested in Genotek: this is the third round of investment in the company. In 2016, a former head of the Presidential Adminsitration Alexander Voloshin, and co-owner of Rusagro Maxim Basov invested in it. For Voloshin, who also entered the Genotek board of directors, it was not the first project in medicine: he is a partner of the fund Genome Ventures, which invests in the online database of veterinarians and vet clinics Pet-Doctor and a platform for medical consultations Pediatrician 24/7.

From Basov and Voloshin, Genotek received $2 million, and these funds "allowed to build a high-tech laboratory," the company said. In late 2013 Genotek raised $500 thousand from RuStarsVentures Fund and private investors.

According to the register, 100% of OOO Holding Genotek belongs to the Cypriot Cleome Holding Limited. According to the extract from the Cyprus Registry, Pharmstandard got 17,5% of Cleome Holding Limited. Valery Ilyinsky and Artem Yelmuratov have a controlling stake of 51.4%, 7.8% are owned by the third founder Kirill Petrenko. Another 10.5% by Maxim Basov, 7% by Alexander Voloshin. In addition, 13.4% of the company belongs to a member of the Genotek board of directors Konstantin Stiskin, a partner of the investment fund Safmar Ventures, which is the part of Safmar Group owned by Mikail Shishkhanov and the Gutseriev family.

Pharmstandard's funds will be directed to the development of the pharmaceutical direction of Genotek, said in a statement. In particular, it is planned to launch a joint project to develop personalized medicine in accordance with the features of the genome. So far it is only about scientific research, and the location of production has not been decided upon, said the representative of Genotek. Now the market of personalized medicine is in an embryonic stage of development, said CEO and co-founder of Genotek Valery Ilyinsky. "Partnership of Genotek and Pharmstandard will be directed to a complete cycle in the field of medicine: from the development and production of drugs to a personalized approach to therapy," he explained.

In Q4 2017 in Russia should start the development of new technologies of molecular-genetic diagnostics for the early detection, prevention and treatment of diseases, according to a road map of development of medicine HealthNet, approved by the Presidium of the Council for economic modernization and innovative development of the Russian President. By the end of 2019, new methods of treatment using molecular genetic diagnosis technology should be included into the standards, according to the same medical care.

The global market for medical genetics in 2020 will be worth $8.8 billion, the road map's authors refer to the Infiniti Research Limited data. It is expected that the share of the Russian segment of the global market will be at least 3% in 2035. The market of genetic tests is yet the largest and fastest growing segment of the global industry of personalized medicine, says CEO of Genotek's competitor, Atlas biomed holding, Sergey Musienko. But in Russia, this market is about 100 million rubles a year, he estimated.