Gemabank to develop drugs for blood diseases

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The International Medical Center for Processing and Cryostorage of Biomaterials (IMCB, Gemabank, MOEX: GEMA) has signed an agreement with a biotech startup, Swiftgen, to jointly develop gene therapy drugs for the treatment of blood and immune system diseases.

“In the next 2 years, we plan to create our own portfolio of gene therapy drugs for further development and implementation. First of all, we focus on diseases such as hemophilia A, hemophilia B, HIV,” comments Gemabank’s director Alexander Prikhodko.

At the first stage of cooperation, Swiftgen plans to conduct the required scope of laboratory research and study specific activity in animal model for two candidate drugs in 2023 and 2024. These proof of principle studies studies should confirm the homotopy of the candidate drugs for further preclinical and clinical trials.

If the first stage is successful, the total amount of investments in drug development and preclinical trials from 2023 to 2025 could amount to about RUB 80 million.

At the same time, Gemabank plans to maintain its existing dividend policy and dividend payments to shareholders at the level of previous years or higher.

The International Medical Center for Processing and Cryostorage of Biomaterials is part of the Human Stem Cell Institute group (HSCI, MOEX: ISKJ) and, under the Gemabank brand, offers personal storage of biomaterials, mainly hematopoietic stem cells. The creation of candidate drug will allow the company to create a biotechnological unit and a portfolio of drugs in addition to its medical activities in the next few years.