Navigation Links
Domain's $760 million co-investment partnership with Rusnano bears fruit with fifth transaction funded
Date:7/29/2013

PRINCETON, N.J. and SAN DIEGO, July 29, 2013 /PRNewswire/ -- Domain Associates, a leading life sciences venture capital firm, announces a fifth portfolio company, ReVision Optics, has received funding under its investment agreement with Russian state investment corporation Rusnano.  ReVision Optics is a Southern California-based firm developing Raindrop™, an inlay for presbyopic vision correction in Phase III trials.  ReVision Optics has raised $55 million in a financing in which Domain, Rusnano subsidiary RusnanoMedInvest and other investors participated. 

(Logo: http://photos.prnewswire.com/prnh/20130313/LA75490LOGO)

A year ago Domain and Rusnano announced a $760 million partnership whereby Rusnano agreed to invest along with Domain and Domain portfolio investor syndicates.  In addition, the partnership fosters transfer of technology into Russia and establishes manufacturing facilities in Russia for production of advanced therapeutic products.

"In our first year of working together Domain, Rusnano, and other investors have teamed up to invest in five companies that are developing advanced treatments for ailments as diverse as foot ulcers, epilepsy and near vision loss," said Brian Dovey, partner at Domain. "Put simply, this investment partnership is delivering results – for Domain, our portfolio companies and our partners in Russia."

The agreement has opened an innovative source of late-stage financing for health science companies while creating an attractive commercial opportunity to produce and market pharmaceuticals for the large and fast-growing Russian market. In 2012 four Domain portfolio companies were the recipients of funding rounds under the partnership:

  • CoDa Therapeutics is developing new therapeutics for wound care, including the treatment of diabetic foot ulcers and venous leg ulcers.
  • Marinus Pharmaceuticals is a specialty pharmaceutical company developing neurosteroids for central nervous system disorders.
  • Lithera is a clinical stage company developing pharmaceutical and biomedical products addressing both lifestyle and medical indications in aesthetic medicine and ophthalmology.
  • Regado Biosciences is leading the development of a new therapeutic technology based on antithrombotic aptamers with active control agents.

In addition to executing financing transactions, Domain and Rusnano are building out a world-class manufacturing company, NovaMedica, which will produce and market next-generation pharmaceuticals in Russia. The company is acquiring intellectual property rights for Russia and the Commonwealth of Independent States for all of the treatments funded under the Domain-Rusnano investment agreement. It is also now seeking to license rights to leading edge health sciences technologies outside the Domain portfolio that have application for the Russian market.

Dovey continued, "We are also delighted by the progress made by NovaMedica, our joint venture for commercialization and manufacturing in Russia.  We look forward to breaking ground this year and finding additional health sciences products beyond our portfolio companies to develop and market in Russia."

Groundbreaking on the construction of the NovaMedica plant is planned for the fourth quarter of this year. The plant, which will meet GMP standards, will be built in the Kaluga region of European Russian.  The new plant will be built under a joint venture between DRI Holdings Limited, a portfolio company of Domain Associates LLC, and RusnanoMedInvest.

Tatiana Saribekian, CEO of DRI Holdings Limited, said, "NovaMedica, our manufacturing business, represents a huge opportunity given the scale, current level of under-penetration, and growth trajectory of the Russian advanced pharmaceuticals market. We now have a portfolio of five products and an attractive pipeline, and we are interested in hearing from additional companies."

About Domain

Founded in 1985, Domain Associates, L.L.C. is a venture capital firm with an exclusive focus on investing in life science companies that advance human health. Domain's focused network, deep experience, and dependable reputation have made it one of the top private-equity groups participating in healthcare investing. With more than $2.7 billion in capital raised, Domain invests in three major segments: pharmaceuticals, diagnostics, and medical devices. The partners of Domain have a total of more than 270 person-years of experience among them in the healthcare and venture capital industries and have been involved in the formation and growth of more than 250 life sciences companies. Representative past investments include Amgen, Amylin Pharmaceuticals, Cerexa, Biosite, Dura Pharmaceuticals, Pharmion and Volcano. Domain has offices in Princeton, N.J. and San Diego.  For more information, please visit http://www.domainvc.com.

 


'/>"/>
SOURCE Domain Associates
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. First assessment of individual RLS domains in new post-hoc analyses of Neupro® studies
2. aTyr Pharma Completes $49 Million Financing to Advance a Therapeutic Pipeline for Rare Autoimmune Diseases from a Newly Discovered Class of Proteins, Physiocrines
3. aTyr Pharma Closes $10 Million Venture Debt Loan from Silicon Valley Bank
4. New Study Shows Unique Dietary Supplement With Omega Fatty Acids Holds Promise For 30 Million Americans Who Suffer From Dry Eye
5. JenaValve Raises $62.5 Million In Venture Funding
6. NGM Biopharmaceuticals Secures $50 Million in Series C Financing to Advance its Portfolio of Novel Therapies for Diabetes and Obesity
7. The Emerging Eastern European Market For Interventional Cardiology Devices Will Grow To $282 Million By 2021
8. Study Estimates that 4.3 Million Prescriptions for Painkillers Were Diverted to Illicit Use by "Doctor Shoppers"
9. AbGenomics International has raised $9.6 million for advancing its psoriasis phase-II trials in US
10. Hydration startup Drip Drop Inc. raises 2.3 million in just 10 days
11. ViaCyte, Inc. raises $10.6 Million in a Private Financing to Support Clinical Development of its Cell Therapy Product for Insulin Dependent Diabetes
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/28/2016)... 2016   Click here for supplemental information ... DPLO), the nation,s largest independent specialty pharmacy, announced ... to acquire Valley Campus Pharmacy, Inc., doing business ... specialty pharmacy that provides individualized patient care, based ... In 2015, TNH generated approximately $400 million in ...
(Date:4/28/2016)... 2016  While Abbott,s announced purchase of St. ... repair and stent business, healthcare research firm Kalorama ... firmly into patient monitoring.  Kalorama said that patient ... areas, with double-digit growth expected the next 5 ... Remote Patient Monitoring . Abbott Laboratories agreed ...
(Date:4/28/2016)... Research and Markets has announced ... Market 2016-2020" report to their offering. ... The global plastic surgery products market is expected to ... 2016-2020. , ,The growing adoption of laser in aesthetics ... the market. Lasers are used to treat a broad ...
Breaking Medicine Technology:
(Date:4/28/2016)... ... April 28, 2016 , ... ProText Layouts is a set of 30 ... . With ProText Layouts, video editors can create an energetic typography video with ... scale of texts. Creating text-based videos have never been easier. , ProText Layouts ...
(Date:4/28/2016)... ... , ... La Sirena Foods provides premium canned seafood, specifically, Tuna, Sardines and ... grow their market share in the USA. , "We are happy to have been ... and indirectly with Otis McAllister , a leading global food company," said ...
(Date:4/28/2016)... ... April 28, 2016 , ... CastCoverz!, ... partner with AquaShieldUSA, the country's oldest waterproof cast protector . As the ... stores, the largest selection of daily, night, weatherproof and waterproof covers for most ...
(Date:4/28/2016)... ... April 28, 2016 , ... Head Over Heels Athletic ... Western Championships. The competition will be held at the University of Montana on April ... west of the Mississippi River. , In order to qualify, Varize needed to place ...
(Date:4/28/2016)... , ... April 28, 2016 , ... University of New ... to the role of vice president of Student Engagement. In addition to his ... athletics and student life areas. , “In the space of just one year ...
Breaking Medicine News(10 mins):