The Bioprocess Capital Ventures Fund, created with RVC capital participation, withdrew from Ivix and sold its stake in the project to the Irish biopharmaceutical company Ovoca Bio PLC for $5 million. Previously, Ovoca Bio PLC invested in the second round of project investment.
The Ivix Company, established in mid-2012, specializes in the development of an innovative medication based on the signal peptide BP101 — a modulator of disorders of the limbic-reticular complex to stimulate female reproductive function. The peptides' uniqueness is about their specific effect on the central nervous system, and are also close to similar peptides produced in the human body, which makes their use as safe as possible. The medicine was based on innovative ideas of scientists from one of the leading Russian scientific centers — the Institute of Molecular Genetics of the Russian Academy of Sciences.
Ivix received some investments from Bioprocess Capital Ventures in 2013. In March 2019, the team completed the III stage of clinical trials of the medicine. In September 2019, it applied to the Ministry of Health of the Russian Federation for permission to bring the medication to the market. It is expected that Ivix for reproductive health can go on sale by the end of 2020 once approval is obtained.
RVC is a governmental fund of funds, the Institute of Development of the Russian Federation. The main objectives of RVC to stimulate the creation of Russia's venture capital industry and to execute the Project Office of the National Technology Initiative (NTI) functions. The authorized capital of RVC is more than 30 billion roubles. One hundred percent of the RVC capital belongs to the Russian Federation. It is represented by the Federal Agency for Management of State Property of the Russian Federation (Federal Property Management Agency). The total number of funds formed by RVC has reached 29. Their overall size is 64.4 billion rubles. The share of RVC is 38 billion rubles. Funds with capital participation of RVC JSC invested more than 290 portfolio companies for a total of 23 billion rubles.
Bioprocess Capital Ventures is a venture fund created with RVC capital and managed by the Bioprocess Capital Partners Investment Fund, which invests exclusively in innovative projects that develop new products and technologies in the field of biotechnology, fine chemicals, and telecommunications. The choice of priority areas for investment is determined by the UK BKP management team's competence, which has extensive experience in these areas.