ADVERTISEMENT
2 /3 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

Rusnano Invests In Cleveland BioLabs

by Ann M. Thayer
October 3, 2011 | APPEARED IN VOLUME 89, ISSUE 40

Cleveland BioLabs will launch an oncology-focused subsidiary called Panacela Labs with support from the Russian Corporation of Nanotechnologies. Rusnano will invest $9 million up front and up to $26 million over four years contingent on development and investment milestones. In addition to contributing five drug candidates, Cleveland BioLabs will invest $3 million and own about 55% of Panacela. Other intellectual property will come from Roswell Park Cancer Institute, Cleveland Clinic Foundation, and Children’s Cancer Institute, in Australia. Panacela will first seek approval of any drugs in Russia. Rusnano recently invested in Pro Bono Bio in the U.K. (C&EN, Sept. 19, page 8).

X

Article:

This article has been sent to the following recipient:

Leave A Comment

*Required to comment