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Russia and Cuba expand biopharmaceutical cooperation

St. Petersburg, Russia, Jun 6 (Prensa Latina) Russia and Cuba are progressing in cooperation in the biopharmaceutical sector to produce a range of innovative medicines, Russian Direct Investment Fund (RDIF) director Kirill Dmitriev confirmed on Thursday.

The St. Petersburg International Economic Forum (SPIEF) has been a space to announce several agreements signed by the RDIF and a consortium consisting of the Cuban biotechnology company BioCubaFarma and Russian pharmaceutical companies for the development and subsequent production of medicines to fight oncological and age-related diseases, the director said.

Dmitriev also announced that the volume of investments in the initial phase will amount to 11.3 million dollars, with the possibility of further increase up to 113 million dollars.

He also stressed that the Cuban company currently carries out a cycle of development, production, and sale of biotechnological and pharmaceutical products, which cover significant countries worldwide.

“BioCubaFarma has become Cuba’s first RDIF partner. Combining our efforts and knowledge will allow us to develop and market innovative medicines against the most complex kinds of diseases caused, among others, by age-related changes,” Dmitriev added.

The RDIF director also noted that the Cuban company has several international agreements for producing monoclonal antibodies and therapeutic vaccines against cancer, recombinant proteins, and others.