Russian biotechnology company BIOCAD to open a production facility in Turku
BIOCAD, a Russian biotechnology company with global operations, is opening a production facility in Turku, and launching cooperation with research teams from the University of Turku and Åbo Akademi. Over the next seven years, the total investments add up to over 25 million euros.
BIOCAD, founded in 2001, is one of Russia’s most significant and innovative biotechnology companies. The company’s portfolio includes biological and chemical medicines and original products, particularly for the treatment of cancers and autoimmune diseases.
The company has grown rapidly, and last year, its turnover was approximately 230 million euros. BIOCAD has some 1,300 employees worldwide, over 450 of whom are researchers. Through Finland, and Turku in particular, the company aims for the European market.
- A competence cluster of higher education institutes and companies in the field of life science, which represents the top quality within the EU, is located in the Turku region. In deciding on being located in Turku, particularly the cooperation in scientific projects and research related to cancer was significant for us, says Dmitri Morozov, CEO of BIOCAD.
BIOCAD has already developed several medications which can be used for the treatment of various cancers such as melanoma, breast cancer, gastric cancer, renal cancer, and lung cancer, as well as autoimmune diseases such as rheumatoid arthritis and multiple sclerosis. The company is now introducing these medications on the European market.
Turku and St Petersburg are both centres of pharmaceutical competence. St Petersburg is home to almost 20 per cent of all medicine production in Russia.
- BIOCAD is one of the forerunners within the Russian pharmaceutical industry. We are happy that BIOCAD can now launch a new kind of medicine development and production cooperation through the twin town relationship between Turku and St Petersburg, says Vice Governor of St Petersburg, Sergei Movchan.
BIOCAD, the University of Turku, Åbo Akademi, and as a significant supporter of the establishment of the new actor in Turku, Turku Science Park Oy, have signed a cooperation contract on 23 May. The signature event was organised in connection with the Finnish-Russian twin town conference and the St Petersburg days, which are organised at the same time. In the future, the actors agree to cooperate in matters related to both product development and the development of business operations.
- Pharmaceutical development is the joint strength of the University of Turku and Åbo Akademi. BIOCAD’s announcement to open pharmaceutical production and product development in Turku is excellent news. The local research community is ready for cooperation, and I believe that the local institutes of higher education can offer plenty of expertise to support the company’s product development, says Rector of the University of Turku, Kalervo Väänänen.
Aleksi Randell, Mayor of Turku, is also happy about BIOCAD’s decision to locate its operations in Turku.
- Along with this agreement and BIOCAD’s production being located in Turku, the city will strengthen its position as the life science capital of Finland. Half of the turnover in Finnish pharmaceutical industry comes from Turku, and approximately one in five of our industrial jobs are in the life science sector. Turku’s objective to open a national pharmaceutical development centre will also be further supported, Randell says.