The Stockholm-based biotech company Nanologica AB recently announced a new collaboration with the Russian biotech company Nanolek LLC.
The contract concerns a formulation of pharmaceutical drug products using Nanologica’s patented nanoporous materials platform and the manufacture of new drugs, whereby Nanologica is responsible for formulating active pharmaceutical ingredients into porous particles. Nanolek will develop, manufacture and distribute the final formulation in Russia and the rest of the Commonwealth of the Independent States (CIS).
“The CIS market has a population of 300 million people and is one of four focus markets where we see strong demand for our technology,” says Nanologica CEO Andreas Bhagwani.
Nanolek develops and manufactures drugs based on nanotechnology and has a partnership with the state owned Russian company Rusnano. This manages the world’s largest government investment in nanotechnology with a budget of 318 billion rubles (3.95 billion Euros).
“Russia has a very strong tradition in chemistry and natural sciences and is rapidly becoming a world leader in nanotechnology. It is very gratifying that Nanolek recognizes Nanologica’s technology platform which is ideal for pharmaceutical formulation and drug delivery. This shows that Nanologica is competitive in a very fast-moving technology market. It is especially remarkable that Nanologicca’s technology is based on research findings from the last five years, which shows that the path from discovery to commercial application doesn’t have to be long,” said Professor Sven Lidin, Board Member of Nanologica.