The Russia-Japan Investment Fund invests in coronavirus testing producer EMG
Moscow, May 8, 2020 – The Russia-Japan Investment Fund (RJIF, established by the Russian Direct Investment Fund (RDIF), Japan Bank for International Cooperation (JBIC) and JBIC IG Partners), together with RDIF, announces its investment in Evotech-Mirai Genomics (EMG), a supplier of the Russia-Japan coronavirus testing-kits, which is one of the world’s fastest and most accurate systems and able to detect the virus in just 30 minutes.
The corresponding agreement was signed, and the joint efforts of RJIF and RDIF on this project were welcomed earlier in the videoconference held between the Minister of Economic Development of the Russian Federation and the Minister of Economic Cooperation with Russia, who is also the Minister of Economy, Trade and Industry of Japan.
EMG has already launched its business and plans to develop its supply of test-kits not only to meet demands in Russia but also to meet global demands of coronavirus testing. The funds invested by RJIF aims to support the expansion of the supply of testing-kits in Russia and in other countries, and contribute to enhancing availability of coronavirus testing, which is now an urgent agenda to be addressed all over the world.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), noted:
“Our foreign partners have joined the common fight against coronavirus, which is the world’s major problem today. They see the true value of the system developed jointly by Russian and Japanese scientists. EMG test systems enable the detection of coronavirus with maximum accuracy, they are actively used in Russia and globally for early detection of the infection. RJIF’s investment will enable EMG to upscale production and develop more profound diagnostic systems. This will help increase the scale of testing and prevent the spread of the virus.”
Russia-Japan Investment Fund was established to pursue and implement attractive investment projects to promote economic, trade and investment cooperation between Japan and Russia. Priority sectors identified for cooperation include healthcare, the development of smart cities and sustainable technologies, energy, cutting-edge technologies, developing industries and exports in the Russian Far Eastern District, as well as other initiatives that will strengthen the trade and economic relations between the two countries. Further information can be found at www.rjif.org
Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Currently, RDIF has experience of the successful joint implementation of more than 80 projects with foreign partners totaling more than RUB1.8tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 800,000 people, and generate revenues which equate to more than 6% of Russia’s GDP. RDIF established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than $40bn. Further information can be found at www.rdif.ru
For additional information contact:
Russian Direct Investment Fund
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
Andrew Leach / Maria Shiryaevskaya
Tel: +44 (0) 20 7796 4133