Rafarma Signs Trilateral Investment Agreement Officially Launching Tashkent Pharmaceutical Plant Build

Nicosia, Cyprus, July 30, 2021 (GLOBE NEWSWIRE) -- Rafarma Pharmaceuticals, Inc. OTC:(RAFA) The scientific and technical council of the Agency for the Development of the Pharmaceutical Industry of Uzbekistan recognized the Rafarma Pharmaceuticals’ project for the construction of the Tashkent plant as the largest innovative project of the industrial zone of the Tashkent Pharma Park pharmaceutical cluster.

Rafarma Pharmaceuticals previously announced its plans to build a scientific and pharmaceutical complex on the territory of Tashkent Pharma Park by the end of 2026. At the first stage, it is planned to organize the production of cancer drugs and drugs from human donor blood plasma, at the second stage, a complex will be built for the production of drugs based on antibodies (-MABs) and radiopharmaceuticals used for the diagnosis and treatment of various types of cancer. In addition to modern high-tech production lines, on the territory of 10 hectares, which Rafarma Pharmaceuticals will receive as part of the project, it is planned to create a network of laboratories for blood plasma collection that meet the requirements of the international GMP standard.

The trilateral agreement was signed July 24, 2020 by representatives of Rafarma Pharmaceuticals, the Agency for the Development of the Pharmaceutical Industry of Uzbekistan and the Directorate for the Development of the Innovative Scientific and Production Pharmaceutical Cluster Tashkent Pharma Park. The total investment will amount to $85 million (US), work on the project commences this year.

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