Russian Venture Capital Association

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12.02.2014

FPI RVC exited from "Medkontrastsintez" project

RVC Seed Fund (RVC SF) successfully exited from the "Medkontrastsintez" company's capital, having sold the share in the project at 34,7% profitability of the investment. The buyer of the RVC SF's stock was "TONAP-Venture" company.

Medkontrastsintez is engaged in development of the "Nagapenten" contrast agent for the magnetic resonance tomography (MRT). In the European countries, the contrast agents are used in 70-80% of MRT cases. In Russia this indicator makes no more than 9% that is connected with high cost of the imported preparation.

Distinctive feature of the project is absence of Russian analogs of the MRT contrast agents in domestic market, therefore the preparation has good business prospect in the Russian Federation in relation to substitution of expensive foreign contrast agents' import. Besides, one more distinctive feature of the preparation is record low toxic impact on a patient and high contrast of images. 

The "Nagapenten" preparation is included in the "Pharma-2020" Program within which the company has planned R&Ds for the purpose of further continuation of the product's development and improvement.

"RVC SF exit from the project is a logical stage of development for the company and for the fund as investor. The project has passed seed stage, and current target of the team is to develop business, thus having strong motivation in the form of increased share in the project. We think that the fund succeeded providing correct balance − assistance to the project and effective return on invested capital", − says Alexey Teleshev, the RVC SF director.

The size of the MRT contrast agents market in Russia will make up to 1220 million rubles in 2014. Dynamics of growth of the MRT researches' number in the Russian Federation made 224% within 2000−2009 or 25% a year, according to SYNOPSIS Consulting&Research.

"Financing of RVC SF was a good impetus for development and implementation of the project. As concerns the outlook, conducting of preclinical and clinical trials of the preparation is planned at this stage, for which the government programs' funds of 68 million rubles were raised. During last transaction the size of TONAP-Venture's share made 20%. We greatly hope that this preparation will be able to occupy an essential share in the market of contrast agents", − says Dmitry Chukhlantsev, the TONAP-Venture Director General.

About JSC RVC

JSC RVC — the state fund of funds, institute of development of the Russian Federation, one of the key tools for the state in creation of the national innovation system. Authorized capital of JSC RVC makes more than 30 billion rubles. 100% of the RVC capital belongs to the Russian Federation represented by Federal Agency for State Property Management of the Russian Federation (Rosimushchestvo). The total number of funds created by JSC RVC reached 13, their cumulative size — 27.67 billion rubles. The JSC RVC stock – more than 16.85 billion rubles. The number of innovative companies backed by RVC funds reached 142. The total volume of the invested capital – 13.05 billion rubles.

About RVC Seed Fund

The RVC Seed Fund LLC (RVC SF, Fund) was created on October 22, 2009, within realization of Basic provisions of the JSC RVC strategy. Participants of the Fund are: JSC RVC (99%) and Foundation for assistance to development of small forms of enterprises in the scientific and technical sphere (1%). The Fund is focused on investing in Russian innovative high-growth companies in Russian and foreign innovation and technological markets. The capital volume under the Fund management − 2 billion rubles.

About "TONAP-Venture"

The "TONAP-Venture" innovative company (a member of TONAP group of companies) was created in 2006 for implementation of innovative projects. Effective cooperation with innovative companies, scientific organizations, inventors and businessmen is being carried out in this direction. The company invests its own capital in the most promising projects, and attracts funds of Russian and foreign investors and venture capitalists. Today, by means of the TONAP-Venture company more than 20 innovative projects have been realized already. Besides, the company has developed and successfully supports its own innovative project "The High Technologies Exchange".

Source: www.rusventure.ru

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