Gemabank will invest 15 million roubles in gene therapy development for neuromuscular diseases, GxP News reports.
Biotech company Gemabank is investing 15 million roubles in the startup Orphagenex. It has already allocated 10.5 million roubles, with the remainder to be received by the end of 2026.
The funds will go towards developing gene therapies for rare neuromuscular diseases, including spinal muscular atrophy (SMA).
The number of SMA patients in Russia is estimated at around 1,500, with between 53 and 244 new cases diagnosed each year.
Sales of SMA treatments in Russia reached about 27 billion roubles in 2024, while the Circle of Good foundation’s procurement for orphan muscular disorders amounted to 33.9 billion roubles in 2023.