[TechUkraine news] Farmak has invested more than $1.2 million in projects and startups

Ukrainian pharmaceutical company Farmak has invested more than $1.2 million in projects and startups in the MedTech and HealthCare industries.
  • Farmak began investment activity in the venture capital market in 2020.
  • The pharmaceutical company financed the first project from the Ukrainian company ComeBack Mobility, which developed intelligent attachments for crutches. They are designed to control the load during the rehabilitation during the diseases and injuries of the lower extremities.
  • Having analyzed the venture capital market in Ukraine and abroad, Farmak chose several more startups for investment in 2021. For example, MedTech-startup DrugCard first began to provide Farmak with services related to the automation of pharmacovigilance processes as a contractor.
  • Last year, Farmak invested in Cambrian Biopharma, the U.S. biotech startup, which is developing innovative drugs to combat the biological factor of aging, treat and prevent age-related diseases and increase life expectancy. Cambrian is currently developing 14 new therapeutic drugs.
  • Farmak is the leader in the pharmaceutical market with a 5.9% share in value terms. It manufactures medicines in all 14 therapeutic groups.
Executive Director Volodymyr Kostiuk: “The decision to invest in startups was made as one of the strategic directions of business development. We are interested in areas at the intersection of advanced express diagnostics, digital medicine, interactive patient engagement, allowing us to diagnose and predict possible health problems. And if they are found, then using biomedical and computational technologies to determine the causes and recommend solutions to eliminate them,”