OREANDA-NEWS. OJSC Pharmstandard (LSE: PHST IL, RTS: PHST RU) (“Pharmstandard”) and Millhouse LLC (“Millhouse”) today announced they have completed individual acquisitions of stakes in Biocad Holding Ltd., the main shareholder in Russian biotechnological company CJSC Biocad (“Biocad”).

Biocad specializes in the development, production and promotion of original and generic drugs in the following therapeutic categories: urology, gynecology, dermatovenerology, oncology, hematology, autoimmune and infectious diseases.

Under the terms of the deal, Pharmstandard acquired 20% of Biocad Holding, while a Millhouse-affiliated entity purchaseв a further 50% stake.

Pharmstandard financed the acquisition with its own funds.

“Biotechnology in medicine is one of the most popular investment trends nowadays”, said Pharmstandard CEO Igor Krylov. “In Russia Biocad is undoubtedly a leader in biotechnology industry and now has become a respected partner for us to explore many biopharmaceutical opportunities”.

Millhouse and Pharmstandard have a successful track record of working together to develop leaders in the pharmaceutical market. The companies previously cooperated on the acquisitions of ICN Pharmaceuticals, Inc. and CJSC Masterlek, and on Pharmstandard's initial public offering.

The remaining 30% of Biocad Holdings is controlled by Dmitri Morozov, CEO and founder of Biocad, who will continue to run the company together with his top-notch management team.