Nanohale AG and Rostechnologies sign Memorandum on the establishment of a joint venture Dortmund, October 25, 2010 – In the framework of international innovation cooperation the Nanohale AG and the Russian State holding Rostechnologies have signed a memorandum on future cooperation. The memorandum of understanding foresees the establishment of a joint venture, in which the Nanohale AG holds 50 percent of the shares. The joint venture establishment undertakes Rostechnologies, the realization of a total of five development projects with a $ 40 million to support initial funding. The memorandum was by the Board of Nanohale AG, Dr. med. Friedrich-Wilhelm Steinweg and Dr. Nicolas Combe, as well as Andrey A. Murdasov, representative of Mr Peter Kanigin, Deputy Managing Director of RT-Biotechprom AG, subsidiary of State holding Rostechnologiii, signed.

Other participants included that the initiators of the project Prof. Dr. Andrey V. Zverev, head of trade and economic offices of the Embassy Russian Federation and Ambassador of the Russian Federation Embassy in the Federal Republic of Germany, and Dr. Bertrand Malmendier, Berlin lawyer and Chairman of the Center for social conservative policy of the party United Russia in the EU, as well as representatives of the District of Arkhangelsk.

The joint venture should be established legally in November with the payment of a first instalment in the amount of $ 500,000. Within the cooperation, the Nanohale AG acts as expert. It aims to make marketable drugs active ingredient-Laden, biodegradable Nanocarriers and nano products effective nasal applicable and thus faster and more compatible with the company’s highly innovative, patent-protected technology. In the future is also tested, inhalational applications to market. We are pleased that we could agree a cooperation with Nanohale AG as an innovation leader in this area already in the early stages of the development of carrier system. Together, we will as soon as possible the marketing authorisation advance”, as Andrey Murdasov of RT-Biotechprom AG.