Opko Health Inc. (NYSE: OPK) has purchased a 10 percent stake in Oao Pharmsynthez (MICEX: LIFE), a Russian pharmaceutical company.
The deal is part of a $60 million two-stage financing for Oao Pharmsynthez that Opko is contributing to with the Russian Corporation of Nanotechnologies, a state-owned company. The Russian Corporation of Nanotechnologies invested $26.1 million as the first step of the deal. Terms of Opko’s investment weren’t disclosed.
Opko will partner with Oao Pharmsynthez to develop and market Opko products in Russia and other eastern European countries. Miami-based Opko develops protein-based vaccines, as well as medications for asthma, chronic obstructive pulmonary disease (COPD), Parkinson’s disease and other diseases.
Oao Pharmsynthez makes and markets branded pharmaceutical products, including Virexxa, MyeloXen, PulmoXen and Hivirin, in Russia and the Baltic states, and provides research and development services.
Virexxa treats endometrial cancer; MyeloXen treats multiple sclerosis; PulmoXen treats cystic fibrosis; and Hivirin treats HIV.
Opko announced in August it was buying Farmadiet Group Holding SA, a Barcelona-based company that develops and sells pharmaceutical and veterinary products as part of a strategy to expand in Europe.