MOSCOW and LONDON, September 12, 2011 /PRNewswire/ —
– Anglo/Russian Venture Will Have Important Humanitarian Objectives From Day 1
Pro Bono Bio™ is a new international pharmaceutical company that launched today. Pro Bono Bio is the result of a three year Anglo/Russian project, developed by Celtic Pharma Holdings in London. Pro Bono Bio has ambitious growth targets that will allow it to support a unique humanitarian mission. Pro Bono Bio combines global pharma expertise from the UK with international capital and matched funding from the Russian Corporation of Nanotechnologies (RUSNANO).
Pro Bono Bio is the first pharmaceutical company to have clear and specific humanitarian objectives from Day 1. Pro Bono Bio’s products will be priced in different geographic areas based on the region’s ability to pay. Importantly, Pro Bono Bio’s business model includes the provision of free drug donations to Africa based on the sales of its products at normal prices in the pharmaceutical markets of Western Europe. Pro Bono Bio’s shareholders are fully supportive of this unique approach.
British Prime Minister David Cameron commenting on the launch of Pro Bono Bio said “This is a great example of UK- Russia collaboration at the cutting edge of R&D. It demonstrates how British businesses can work together with their Russian counterparts to expand into new areas, creating jobs and prosperity here in the UK.” Rest