Closed-end mutual fund (CEMF) "Maxwell Biotech" founded with participation of RVC capital sold its shares in the portfolio companies at the final stage and ensured return of investment to the members. "Maxwell Biotech", for the time of its work, invested nine socially significant medical projects and became the first in Russia venture fund focused on innovation in biomedicine.
"Maxwell Biotech" fund was set up in December 2008 under the authority of "Maxwell Asset Management" to invest in biotechnological and medical start-ups. RVC, private investors and managers from CEMF "Maxwell Biotech” acted as fund co-investors. Fund volume consisted 1.2 billion roubles. RVC share is 49%.
Fund portfolio included
nine innovation companies in the field of biopharmaceuticals and medicine. All projects are aimed at resolution of the serious medical and social problems in the field of infectious disease, oncology, cardiovascular morbidity, nervous disorders and lung diseases. Company portfolio companies demonstrated significant dynamics from the date of investment, and a part of the projects passed through all pre-market development stage. In particular, Myrcludex B medicine from hepatitis B and D created by "Hepaterra" company, received status of "breakthrough therapy" of the US Food and Drug Administration, FDA, "Infectex" company completed clinical tests of the medicine SQ109 to treat multidrug-resistant lung tuberculosis.