Artgen Biotech (MOEX: ABIO) has provided a convertible loan of RUB 20 million to Adena, a biotech startup developing innovative drugs and vaccines.
The funds will be used to develop a portfolio of drugs based on adeno-associated viruses for the prevention and therapy of HPV-associated cancers, drugs for the prevention and treatment of cat allergic disease, drugs against respiratory syncytial virus, and a VEGF-based therapeutic drug for the therapy of age-related diseases.
Artgen Biotech is a biotechnology company with a portfolio of pioneering platform developments, which it brings to the healthcare sector. Artgen Biotech Group includes companies at various stages of development, from seed stage to early growth and maturity, as well as companies that form an ecosystem to accelerate biotech developments within the Group.
In line with its development strategy, Artgen Biotech aims to support up to 30 early-stage drug projects, from molecule design to proof of concept in animal models, between 2024 and 2026. From these, 10 candidate drugs are planned for the treatment of genetic, age-related, infectious diseases, and cancer.