ASTANA — The first Kazakh-U.S. venture fund for innovative medical technologies, FutureMED Ventures KZ, was launched in the state of Delaware, reported Kazinform on May 13.
Photo credit: FutureMED Ventures KZ
The fund’s staff comprises leading experts from the United States and Kazakhstan who specialize in commercializing scientific advancements in the biomedicine and medical device industries. The total planned volume of the fund is $400 million.
The fund’s mechanism of operation includes searching and selecting companies that develop promising innovative technologies in medicine. In exchange for shares of these companies, the fund further finances the clinical trials of these technologies. If a clinical trial proves it has benefits, the company’s value can increase tenfold, depending on the market size of the ailment the technology is intended to cure and the level of shown effectiveness. In the future, the fund plans to either sell such companies to representatives of Big Pharma or list them on major U.S. exchanges.
According to the fund, the most significant thing in this project is that Kazakhstan will have access to innovative developments of new dosage forms and medical products to those patients who need it.
