Vladivostok, September, 2018 - The Russia-China Investment Fund (RCIF, established by the Russian Direct Investment Fund (RDIF) and China Investment Corporation (CIC)), CapitalBio Technology, an industry-leading Chinese life science company that develops and commercializes total health-care solutions, and Sistema PJSFC have agreed to create the largest innovative biotechnology laboratory in Russia. A corresponding agreement was signed today on the sidelines of the meeting between Russian President Vladimir Putin and Chinese President Xi Jinping at the Eastern Economic Forum.
The first in Russia private innovative biotechnology laboratory will focus on genetic and molecular research in order to diagnose and treat socially significant diseases, including cancer treatment. The biotechnological center will consist of a genetic laboratory, a preclinical studies laboratory, a cell technologies laboratory, and a biobank. The activities of the laboratory will be based on international best practice, the experience of scientists in the biomedicine field, and the knowledge of international partners from global companies.
Kirill Dmitriev, CEO of RDIF and Co-CEO of RCIF, noted:
"Investments in the development of national medicine are one of the priorities of RDIF. We strive to improve the quality of life of the population by investing in socially significant projects. Financing of the first Russian biotechnology laboratory specializing in oncogenetics will provide substantial support to scientific research in this field and will allow for the future development of the newest effective medical drugs to combat oncological diseases. This is the first transaction by RDIF in the field of genetics, and we intend to continue actively searching for attractive investment opportunities in this area."
Bing Hu, Co-CEO and President of RCIF, said:
"Attracting a strong Chinese partner in this transaction will not only create a world-class laboratory, but also make a breakthrough in the field of oncogenetic technologies in Russia. We are pleased to welcome CapitalBio as a partner of RCIF and Sistema and are confident that today's agreement is the beginning of productive long-term cooperation in the field of medicine and biotechnology."
Vladimir Evtushenkov, Chairman of Sistema's Board of Directors, said:
"The global market for medical services is on the threshold of significant discoveries, above all in genetic research. Establishing the first private biotech laboratory in Russia in partnership with CapitalBio, a leading Chinese R&D Institute, will make it possible to leverage the accumulated knowledge of Russian and Chinese geneticists, and to introduce innovative diagnostic techniques and personalised treatments of diseases that have significant social impact into real clinical practice. Today, Russia is among the 15 countries with the highest cancer mortality rates. We hope that the opening of a biotech laboratory will help many Russians to fight this terrible disease".
Russia-China Investment Fund (RCIF) is a joint fund, established by the Russian Direct Investment Fund and China Investment Corporation (CIC). The activity of RCIF is aimed at development of bilateral economic, trade and investment relations between Russia and China. Further information can be found at www.rcif.com.
CapitalBio Technology is a leading Chinese biotechnology company specializing in the development of products for genetic, cellular and protein research. The key products of the Company are biological chips (including DNA microarrays) used in genetic and cellular studies. The company also produces equipment, reagents, supplies and software used for genetic research. CapitalBio Technology was founded in 2000 with the support of Qinhua University (shareholder of the Company). The company unites 5 research institutes and has a strong research base in the field of biological research. The Company's products have been approved for use in more than 30 countries in Asia, Europe and the US, about 300 patents have been received (the implementation of patents is about 60%). Further information can be found at www.capitalbiotech.com.
Sistema PJSFC is a publicly-traded diversified Russian holding company serving over 150 million customers in the sectors of telecommunications, high technology, banking, retail, timber processing, agriculture, real estate, tourism and healthcare services. The company was founded in 1993. Its revenue in 2017 reached RUB 704.6bn; its total assets equalled RUB 1.1tn as of 31 December 2017. Sistema's global depositary receipts are listed under the “SSA” ticker on the London Stock Exchange. Sistema’s ordinary shares are listed under the “AFKS” ticker on the Moscow Exchange. Further information can be found at www.sistema.com.
For additional information contact:
Russian Direct Investment Fund
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
Andrew Hayes / Andrew Leach
Tel: +44 (0) 20 7796 4133
Russia-China Investment Fund
Tel.: +86 10 5762 9000
Fax: +86 10 57629111
Yury S. Trofimov
Russia-China Investment Fund
Tel.: +7 (495) 230-05-55 ext. 4243
Mob.: +7 (985) 765-13-12