GENEXI announced the launch of a funding program up to $42 million to support biotech startups

Top Quote Innovative platform GENEXI announced the launch of a funding program for promising projects in the field of biotechnology. End Quote
  • (1888PressRelease) June 23, 2018 - According to the company's founder Aleksei Zheliaskov, the biotech accelerator GENEXI will assist startups at the stage of development, patenting and product launch. The most promising projects offering breakthrough solutions in the field of biotechnology are planned to be allocated from 12 to 42 million dollars. In this case, startups will be eligible to receive the full support in matters of promotion, legal clearance and communication with retailers.

    In mid-2017, GENEXI announced the official launch of a sustainable innovation ecosystem based on blockchain technology. The release of the blockchain-platform was a key step in the "road map" of GENEXI.

    To date, the GENEXI ecosystem is a niche platform designed to draw the attention of the professional community and government to innovations in the field of pharmacology and biotechnology, and promote the implementation of blockchain technologies into modern medicine.

    The mission of GENEXI is truly enormous - it is improving the quality and increasing the longevity around the world. Its effectuation is based on the achievement of such goals as assistance in attracting financial support to innovative startups, encouraging producers to create technologies to improve the efficiency and safety of products, integrating innovative pharmacology and biotechnology into the world market.

    In early 2017, the doctor of medical sciences and the founder of the innovative company "BIOS" Sergey Tyurin presented the first project within GENEXI: the technology of decomposition of bacteriorhodopsin, molecules of which are used in medicine, cosmetology, agriculture and IT. Based on bacteriorhodopsin, a skin regeneration system was created. RESTET is a biomolecular cosmetic product, one of the most effective in the fight against psoriasis, atopic dermatitis, neurodermatitis and acne. "We were bribed by the fact that the drug has already been researched and it took a small amount of investment to run it. The technologies used have no analogues in the world and are protected by patents. Feedback was positive: we were convinced that the product works and does not cause side effects, "commented GENEXI CEO Aleksei Zheliaskov.

    GENEXI issued a grant of $ 1 million to the project and outlined the main vector of its activity - selection of advanced products in the field of biotech and rewarding scientists who have been working on the future technologies for years. As reported by the leadership of GENEXI, a number of drugs for the treatment of Alzheimer's disease and oncological diseases are in the queue for consideration.

    The technology of blockchain will allow GENEXI to deal a significant blow to such a market as the trade in counterfeit medical products. The particular importance of the new platform will be given to the fight against falsified and substandard drugs.

    The platform's founder and serial entrepreneur Aleksei Zheliaskov united the best professionals in medicine, pharmacology, Internet technologies and agriculture in order to create a strong scientific personnel. He will also lead the council to assess the prospects for practical application and cost-effectiveness of startups. Carefully selected projects will be awarded with grants, which will be allocated from $ 12 to $ 42 million dollars.

    In order to ensure that grants are justified and fair, GENEXI has partnered with leading research laboratories, institutes and medical consultants, including the leading Russian chemist Dr. Sergei Tyurin, American microbiologist Phyllis Martin, biotech analyst and geneticist Alexander Novoselov, Russian Research Institute of Toxicology and Hygiene, American Research Center for Agriculture.

    By July 31 inclusive, anyone wishing to support biotech projects can join the platform. Maybe you are the one to influence the market and provide the humanity with cheaper medicines, more advanced crops and robot prosthesis available to every patient.

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