Genetico Center for Genetics and Reproductive Medicine will hold an IPO on the Moscow Exchange.
The company plans to offer 10 million shares to investors, which will amount to 12% of the company’s capital after the offering. The offering is organized by ALOR with IVA Partners as the co-organizer. The offering date and price will be determined shortly by the company’s Board of Directors.
Genetico Center is a resident of Skolkovo, the Medtech Moscow Technopark of the Moscow Center for Innovative Technologies in Healthcare, a subsidiary of the Human Stem Cell Institute (HSCI— MOEX: ISKJ). The company works in the field of medical genetics and genetic research, implementing into medical practice innovative solutions for the diagnosis, prevention, and treatment of genetic and socially significant diseases.
Genetico plans to use the funds raised during its IPO to develop genetic services in Russia, enter foreign markets, register its own test kits, as well as create candidate gene therapy drugs for the treatment of orphan diseases.
According to Genetico’s director Vladimir Kaimonov: “Russia’s medical genetics market in is at an early stage of its development. Our genetic tests are already being prescribed by physicians and medical centers for infertility treatment, diagnosing and preventing genetic diseases, and for choosing treatment options for patients. Today, these tests are mostly paid for by patients themselves or charities. However, over the past 10 years, more and more countries have included genetic testing in their national clinical guidelines and public health insurance. Russian patients are no exception, the government procurement market for genetic services is expected to grow. Moreover, the country’s costs for the treatment of rare diseases have been soaring over the past few years and already amount to tens of billions of rubles per year. This is one more reason for healthcare authorities to invest in the diagnosis and prevention of genetic diseases.”
“This is the first genetic research company in the Russian stock market. Genetico’s IPO is an opportunity for private investors to participate in the growing medical genetic research market,” comments Artur Isaev, the Chairman of the Board of Directors at Genetico.
Genetico Center is an experienced team and a modern research and production complex that includes laboratories equipped with the latest high-performance sequencers and state-of-the-art robotic equipment, allowing them to conduct advanced genetic research in the field of medicine, genomics, and proteomics.