Animal drug manufacturer Vetstem has raised 24 million rubles from the Moscow Seed Fund. The funds will be used to complete the research, test the product and produce the first industrial batches of medicines.
Biotechnology company Vestem has raised 24 million rubles from the Moscow Seed Fund. This was reported to RB.RU by the fund’s press service.
Vetstem develops veterinary cell therapies for regenerative therapies and pharmaceutical products for the treatment of companion animals. One of them, “Vesotil”, is an analogue of imported drugs with a combination of zolazepam andtiletamine that are not available on the Russian market.
“Since February last year, Russia has been facing a shortage of veterinary medicines, and therefore import substitution in this direction seems extremely interesting and promising to us,” said Vettem CEO Alexander Reshetnev.
The company will use the funds to complete preclinical and clinical studies, test the product at production sites, and also to produce the first industrial batches of drugs.
“In five years we have plans to expand the portfolio of medicines based on our own developments, as well as to create our own production site, including for biologics,” noted Vetstem co-founder Ekaterina Viktorova.
Vetstem is a resident of Skolkovo and the Moscow Innovation Cluster.
Previously, the Moscow Seed Fund invested 18 million rubles in the Exodrive accident prevention platform, 16 million rubles in the ShinSale tire sales project and 15 million rubles in the manufacturer of clothing for brands U2Y.TECH.
Author:
Kirill Bilyk
Source: RB
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