Press about RVC

Artur Isaev Buys Out a Share of the Genetico Laboratory Network from the RVC Biofund

26.11.2020
Source: Vademecum

Artur Isaev, the founder and co-owner of HSCI
Photo: genescells.ru

Artur Isaev, the founder of the Human Stem Cells Institute (HSCI), bought out a 17.79% share of Russian Venture Company's (RVC's) biofund in the HSCI portfolio company, the Genetico laboratory network. The details of the transaction were not disclosed; it is known, however, that the biofund has invested about 180 million roubles since 2014, and the transaction was profitable for RVC, the Company said.

Information about the transaction was entered in the Unified State Register of Legal Entities on November 24. Currently, the owner of the redeemed share is Artur Isaev. It is assumed that in the future, IceGen-2 LLC (structure of HSCI PJSC) will become the owners of the 10% stake, while Isaev will retain the 7.79% stake.

Genetico is a Skolkovo resident and a subsidiary of HSCI. In 2014, HSCI and RVC Biofond signed an investment agreement to create a network of medical centers in Russia specializing in diagnosing and treating genetically determined diseases. The project was implemented based on HSCI's subsidiary, the HSCI Center for Genetics and Regenerative Medicine, operating under the Genetico brand.

The Biofund invested about 179.2 million roubles in the creation of five laboratories, and the company received another loan for 300 million roubles on easy terms at 5% per annum from the Industrial Development Fund. Besides, HSCI itself, which owns Genetico, planned to invest about 150 million roubles of its funds. These funds have been used to equip four technology laboratories and one clinical laboratory specializing in bioinformatics.

Currently, the company conducts genetic research for the diagnosis and prevention of hereditary diseases. Also, it works on the profile of prenatal testing. In 2020, HSCI's subsidiary NextGen joined the consortium of developers for the SARS-CoV-2-CoronaPass test system, allowing the number of antibodies to coronavirus infection in the human body, becoming the carrier of the registration dossier. Mass production of tests started in the fall of 2020 in St. Petersburg.

According to SPARK-Interfax, LLC TsGRM Genetico owns PJSC HSCI (share 82.21%) and Artur Isaev (share 17.79%). The company's revenue in 2019 amounted to 400 million roubles, net profit - 70.3 million roubles.



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