Central regions | Finance, business | Technology & innovation

Russia backs development of domestic chips for blood and plasma testing

11 Nov '13
RVC BioFund, a fund set up by Russian Venture Company, and its partners have invested in Semiotik, a Russian developer and producer of new microchips for testing blood and donor plasma, the RVC website announced.

How much the fund has put up has yet to be specified; it is known, though, that a total of $6.2m has been invested in this round of funding.

The investment will help the company complete the development of the chips and their clinical trials, and set up shop.

Semiotik’s inaugural (and flagship) product is a microchip designed to pinpoint pathogens and malignant tumor markers. This version of the chip is expected to help identify up to ten different pathogens at a time and perform oncology diagnostics based on determining tumor-specific antibodies to two types of tumor.

Plans are to launch the production line in 2015 somewhere outside Moscow (no specification has been given so far). The factory will operate at a projected capacity of about a million microchips a year.

According to tentative expert estimates, by 2020 the Russian market for the microchips will grow to more than $100m a year.

The partners are pushing the project in collaboration with New York University that is assisting in conducting clinical trials and licensing the microchip for the Russian, former Soviet Union and U.S. markets.
Publish in Twitter
Write to Facebook
Google Buzz
Write to LiveJournal
Show in MM
Share MK
COMMENT ON THIS STORY
Find Related Content

Locations:

Latest News: Central regions
17 Aug '18 | Finance, business | Technology & innovation
16 Aug '18 | Technology & innovation | Finance, business
15 Aug '18 | Technology & innovation | Finance, business
14 Aug '18 | Transport, logistics | Finance, business
13 Aug '18 | Finance, business | Technology & innovation
 

Feature stories

7 Jun '18
Russian scientists have come up with a new method of...
3 Apr '18
In regions most of European Russians will hardly ever...
21 Nov '17
Russian scientists have come up with what they say is...
Search (News archive - 21267)
Advertising
RB_Partners_Report
Advertising
gcvsymposium
Advertising
Independent Software Developers Forum
Advertising
Marchmont News

Latest News

17 Aug '18
BestPlace’s analytical platform enables businesses to...
16 Aug '18
Doc+, a Russian service enabling users to bring a...
15 Aug '18
Brain4Net, a Russian developer of solutions in the...

Most read stories from last week

17 Aug '18
BestPlace’s analytical platform enables businesses to...
15 Aug '18
Brain4Net, a Russian developer of solutions in the...
16 Aug '18
Doc+, a Russian service enabling users to bring a...