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news.Rusnano of Russia has invested $50m in Bind Biosciences and Selecta Biosciences in financing rounds amounting to $94.5m to develop nanomedicine-based drugs.
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Rusnano is co-investing $25m in Bind and other $25m in Selecta.
Bind and Selecta intend to strengthen their US-based operations by setting up subsidiaries in Russia to develop their technology platforms in nanomedicine and access the country’s scientific expertise and clinical trial resources.
According to the deal, Bind and Selecta can expand their presence in Russia to take up drug development, including R&D, manufacturing and commercialization.