RBT’s pre-IPO orders are oversubscribed

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Vaccine-developing biotech company RBT (BioTechnology Developments) of the Institute of Human Stem Cells group (HSCI, MOEX: ISKJ) achieved oversubscription at its private offering on the Rounds investment platform.

According to RBT’s Director Igor Krasilnikov: “We collected orders for over RUB 235 million. The final amount of funds raised will be determined at the end of June, after investors sign agreements on the Rounds platform and the investors' applications for benefits from the Skolkovo Foundation are reviewed.”

RBT planned to attract 50 to 160 million rubles at its private offering. The funds will be used to expand the portfolio of vaccines developed by the company and to complete clinical trials of the influenza vaccine.

For individual investors, the Skolkovo Foundation can reimburse up to 50% of the amount invested in RBT, but not more than the personal income tax paid by the investor for the three previous years. For this reimbursement, every private investor must invest at least RUB 1 million.

RBT is a resident of Skolkovo and Medtech Moscow, the Moscow Center for Innovative Technologies in Healthcare Technopark. Together with HSCI, RBT is developing a platform for the development of antiviral vaccines based on surface recombinant proteins and spherical adjuvant particles. Previously, this platform was used to develop coronavirus vaccine Betuvax-Cov-2 and influenza vaccine TetraFluBET, as well as a pentavalent combination vaccine against influenza and coronavirus developed jointly with the Nacimbio pharmaceutical holding. RBT’s technology platform is aimed at making vaccines less reactogenic and minimizing their side effects, while maintaining the “protective” properties of vaccines, such as immunogenicity, at a high level. The company’s pipeline also includes a human papillomavirus vaccine.