Genetico Center for Genetics and Reproductive Medicine (CGRM, MOEX: GECO) will open a new medical genetic center on the premises of Medtech Moscow, the Technopark of the Moscow Center for Innovative Technologies in Healthcare.
Construction, equipment, and licensing of the medical center with an area of approximately 200 square meters is scheduled to be completed in September 2023. Patients of all ages will be able to receive consultations from leading geneticists, and experienced nursing staff will collect biomaterial for molecular and genetic testing.
According to Genetico’s Medical DirectorElizaveta Musatova: “By locating the medical genetic center in a modern cluster of innovative healthcare technologies, the company will unite the expertise of physicians and developers. Exchange of experience and cooperation will accelerate the introduction of advanced genetic technologies in Moscow’s healthcare practice.”
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.
On April 25, 2023, during its IPO on the Moscow Exchange, Genetico offered 10 million shares and raised RUB 178.8 million. The order book was oversubscribed by 2.5 times. It was the first IPO in the Russian market this year. Genetico’s shares are traded in the IIM (Innovation and Investment Market) sector, the exchange sector for high-tech companies with significant growth potential. The Moscow Exchange listed Genetico’s shares as high-tech economy sector securities.
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.