The second annual awarding ceremony of Investor Awards 2012 winners took place on May 23 in Moscow after the end of the forum Invest in Russia. The investment round in the innovative biotechnological company OncoMax, that received investments from Maxwell Biotech Venture Fund, founded with the participation of RVC OJSC and RVC Seed Fund, was acknowledged the best transaction in Direct and Venture Capital Investments.
In 2011 OncoMax successfully finished the development and preclinical efficacy study of the targeted medicine OM-RCA-01 for renal cancer treatment and presented the received results at the most significant scientific oncological conferences. Additionally last year the company was included in the number of residents of the Biomedical Cluster of Skolkovo Innovation Center, received a grant from the Fund in the amount of 30 mln. rubles and the second round of venture investment from Maxwell Biotech Venture Fund and RVC Seed Fund, and became the nominee of Health Foresight Award as the best R&D company of 2011.
The results of the company work were highly appreciated by the award panel of Investor Awards 2012, and, despite serious competition with other nominees, they made it possible for the company to take the first place.
Dmitry Popov, managing partner of Maxwell Biotech Venture Fund said: “OncoMax winning the nomination , on the one hand, demonstrates interest of the investment community in technological start-ups development and, on the other hand, confirms the company’s achievements in 2011 and advances its future success”.
“OncoMax is our first common project with Maxwell Biotech Venture Fund, and, according to the experience, this is a successful transaction which has been appreciated not only by the specialists of the two funds, but by the investment society in general”, said Alexey Teleshev, Director of RVC Seed Fund. “OncoMax getting a prize at the Investor Awards 2012 is an additional incentive for development of new interesting projects both for the funds, and for the company itself”.
“We are glad to realize that in the majority of cases we see the examples of joint capital investments from different funds and positive appreciation from the professional association in the Russian venture business”, noticed Mikhail Tsygankov, Chief Investment Portfolio Officer of RVC OJSC. “This confirms gradual transition of venture ecosystem in a more mature phase, when capital providers appreciate not only the amounts of investments into projects, but they also seek for and find partners, synergistic cooperation with whom can offer something more than simply funding to the project. I’m happy that such synergy was been achieved between RVC portfolio funds in the situation with OncoMax”.