OREANDA-NEWS. July 15, 2011. The Board of Directors of RUSNANO, meeting in regular session, has approved a project that the company will conduct jointly with American venture capital fund Domain Associates, LLC. Domain Associates was founded in 1985 for venture investment in life sciences (medically related areas). The goal of the project is to establish diversified production of innovative drugs in Russia through the transfer of some 20 products from Domain Associates’s portfolio companies. The agreement between RUSNANO and Domain Associates provides for shared investment in the companies, primarily companies with already registered products or companies in late stages of clinical trials, which will minimize investment risk. Furthermore, RUSNANO will directly invest in transfer advanced technologies in medicine and in their commercialization in Russia.

The innovative drugs whose production will be established in Russia under the project have been or are being developed to combat socially significant groups of illnesses-cancers, cardio-vascular diseases, age-related illnesses, diseases of the endocrine system, and others. These pharmaceuticals and diagnostic equipment are expected to be at the base of the product lines that will be developed. RUSNANO and Domain Associates plan to participate in establishing Russian production on an equal-share basis.

RUSNANO’s Board of Directors approved two transactions for debt financing, a nine-billion ruble corporate bond issue for a term of seven years at an annual interest rate that will not exceed 8.67 percent and a 10-billion-ruble corporate bond issue for a term of eight years at an annual interest rate that will not exceed 8.84 percent. As security for the credit, the company will present guarantees of the Government of the Russian Federation that were incorporated into the 2011 federal budget. Sberbank Russia will act as RUSNANO’s creditor for the issues.