A new joint venture for the development and marketing of innovative biotechnology products named IncuBIO S.A. was created in Cuba, an official report revealed today.
Quoted by Granma newspaper the report added that this company is located in Mariel Special Development Zone (ZEDM). It is a partnership between local company Cimab Co. and Neuronic Mexicana Co.
According to additional information on the website of the Ministry of Foreign Trade and Investment (Mincex), IncuBIO is designed to attract venture capital, and its shares may be acquired by future investors.
It seeks to increase the value of these products by financing clinical trials in underdeveloped country.
Among the innovative products it will market is NeuroEPO, one of the most promising assets in the portfolio of Cuba’s Molecular Immunology Center.
Such drug is being tested as a treatment for various neurodegenerative diseases, such as Alzheimer’s, Parkinson’s, and ataxia.
With IncuBIO, Cimab becomes a shareholder of five joint ventures located in China, Thailand, Singapore and Cuba.