The U.S. biotechs, which are independent but share founders and investors, raise a combined $94.5 million from the Russian sovereign fund and U.S. venture firms.

Russia Premier Vladimir Putin has said he wants multinational pharmaceutical companies to manufacture drugs in Russia and support development of the local industry as part of a $4 billion government initiative to reform the Russia healthcare market by 2020. So perhaps it is not too surprising that both Novartis AG and AstraZeneca PLC chose to re-emphasize their commitments to Russia by each issuing press releases June 16 to coincide with the kickoff of the St. Petersburg International Economic Forum

Heeding a government call to support local innovation, Swiss drug maker Roche has stepped up efforts in the fast-growing Russia pharma market, announcing a licensing agreement May 24 with TeaRx Ltd. that will provide the Moscow-based start up with development and commercialization rights for an experimental anti-thrombotic candidate in Russia and 12 other countries