OREANDA-NEWS. June 25, 2012. In the course of the 16th Petersburg International Economic Forum State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and CJSC BIOCAD entered into an Agreement on Cooperation in implementing investment projects and programs in biotechnological, medical and pharmaceutical sectors.

On behalf of Vnesheconombank the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and on behalf of CJSC BIOCAD – by its Board Director Dmitry Morozov.

Under the Agreement the parties intend to cooperate in funding investment projects and programs in developing innovative and efficient biological and pharmaceutical technologies with positive budgetary and social indicators as well as projects and programs aimed at manufacturing medicines and raw materials for pharmaceutical industry both in Russia and abroad.

This project’s implementation will contribute to the development of high technology production facilities, creating new jobs and increasing tax revenues in the budgets of all levels.

Besides projects aimed meeting Russia’s domestic demand for medications, the parties are to explore the possibility to support the export of medications on the basis of Russia’s advanced technologies as well as to localize CJSC BIOCAD’ production in foreign countries.