Russian pharmaceutical company NovaMedica (part of the RUSNANO portfolio) and the corporation
The product in question is used for the treatment of proctologic diseases and has been developed as part of NovaMedica’s own R&D program. Bayer intends to commercialize it under the trade name Reliefipin.
The product is a combination of two active ingredients with a therapeutic and pain relieving effect and will be manufactured in the form of topical water-based gel, which ensures effectiveness and convenience in the treatment of such diseases. In developing the product, NovaMedica used technologies that allowed combining previously incompatible active ingredients in one form, while improving their physical and chemical properties manifold. The formulation is patent-protected.
Reliefipin will be available at Russian pharmacies as early as this June. The parties do not disclose financial details of the deal.
Elena Litvinova, CEO, NovaMedica:
“We are building our R&D program with a view to find out-of-the-box solutions to meet the current needs of patients. This is our focus. The fact that Bayer showed interest in our product means recognition of NovaMedica’s competencies in invention and a high value of partnerships in strengthening the business”.
Olga Shpichko, Managing Director Investment Management, RUSNANO Management Company LLC:
The strategy of creating its own strong R&D center, which was initially chosen by NovaMedica, is paying off perfectly. The company can make unique products that are of interest to major international players. Today, RUSNANO Group places an emphasis on such projects that aim to develop products and technologies with a potential for export. We would like to congratulate the NovaMedica team and wish them every success in the implementation of their other ideas and initiatives”.
Taigun Gunay, Head of Consumer Health Russia, Ukraine and the CIS, division Consumer Health, Bayer:
”Innovations are Bayer’s key growth driver, which is why we give a lot of effort to searching for new effective solutions in the therapy of diseases affecting the quality of life. Relief® is a market leader in topical anti-hemorrhoids treatments , and the products of this line have been prominent in the market for a long time and have earned the patients’ trust over the years. The new product will be an excellent addition to the ones that we already have and will allow for more preciseness in selecting a treatment for each patient”
Reliefipin successfully passed multicenter open randomized clinical trials where it confirmed the data on its high efficacy and safety obtained at the earlier stages of the product studies, and proved to be superior vs. the comparator, one of the market leaders in this therapeutic area. The product was also successful in the pharmaceutical quality evaluation conducted by the Scientific Center for Expert Evaluation of Medicinal Products.
About the companies:
NovaMedica is a Russian pharmaceutical company created in 2012 by RUSNANO JSC and the US venture fund Domain Associates LLC. NovaMedica’s strategy is aimed at search and localization in Russia of innovative pharmaceutical products and technologies, as well as at implementation of own R&D projects. NovaMedica is creating an entire range of own products, which are at various stages of development. In 2017, the company opened in Moscow the R&D center NovaMedica Innotech with state-of-the-art technological capabilities. The center conducts research, develops innovative drugs and manufactures products under own projects and under external contracts. Besides that, the company has an advanced infrastructure for promotion and sale of pharmaceutical products.
Bayer is an international corporation that specializes in medical and biological solutions for healthcare and agriculture. The company’s products and services are intended to help people deal with the most pressing modern problems caused by the world population growth and ageing. At the same time, the corporation strives to increase its profits and efficiency through innovation and development. Bayer adheres to the principles of sustainable development, which is why the Bayer brand is associated across the world with responsibility, reliability and quality. In the 2019 financial year, the headcount of the corporation was about 104 000 people, and its sales reached 43.5 billion euros. Capital expenses amounted to 2.9 billion euros, and expenses on research and development, to 5.3 billion euros.
RUSNANO Group includes RUSNANO Joint Stock Company, RUSNANO Management Company Limited Liability Company, and the Fund for Infrastructure and Educational Programs. Investments of RUSNANO Group ensure operation of 138 companies and R&D centers in 37 regions of Russia.