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Ukraine's Biofarma to invest $ 5 m in drugs development in next 5 years

Ukraine's Biofarma to invest $ 5 m in drugs development in next 5 yearsBiofarma LLC manufacturer of blood products (Kyiv) intends to invest $5 million in the development of new medicines within five years, company president Kostiantyn Yefymenko has said at a press conference at the enterprise in Bila Tserkva (Kyiv region).

"In the next five years we will spend $5 million on the development of new drugs and conducting preclinical trials," he said.

In addition, according to Yefymenko, Biofarma plans to invest about $10 million in the construction of blood plasma collection centres.

"We will invest about $10 million in the construction of plasma collection centres. We have already built a modern centre in Sumy, in which we invested $3.5 million. European experts recognised that our centre is better than its international counterparts," he said.

According to the company president, over the next five years, Biofarma intends to invest $40 million in building a new fractionator for the production of plasma preparations and clotting factors.

For the implementation of the projects, the company intends to attract own funds, as well as borrowed resources. In particular, Biofarma signed a contract with Raiffeisen Bank Aval on opening a ten-year line of EUR10 million for 10 years, as well as a $5 million contract with BNP Paribas.
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