Astana, 26 August 2024 (TDI): FutureMed Ventures KZ, a Kazakh-US venture fund, seeks to foster Kazakhstan’s emerging role as a destination for clinical trials and bring innovative technologies to the country, said Almas Kenessary, the fund’s managing partner.
He highlighted the fund’s goals, a brain tissue regeneration technology it invests in, and why Kazakhstan is set to become a reliable base for medical innovation.
The fund was set up in January in Delaware, the US, and is operationally based in Kazakhstan. It capitalizes on its “unique de-risking concept.”
“In terms of strategic targets, we are a biotech, medtech-focused venture capital company. Our unique de-risking concept considerably hastens not only Kazakh scientific progress but also global,” said Kenessary.
The fund targets promising developments in the medtech and biotech sectors. It attracts medtech and biotech companies from across the world, particularly from the American market.
Kenessary emphasized one of the standout features of the firm’s approach is the ability to conduct early-stage clinical trials in the country at a fraction of the usual cost and in a significantly shorter time frame.
He added the fund focuses on identifying technologies in phase Two clinical trials, where efficacy is the primary endpoint.
Kenessary revealed that the fund has invested in technology focusing on brain tissue regeneration following severe ischemic strokes. It completed phase one trials in the US and is slated to conduct phase Two trials in Kazakhstan in December.
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He underlined the prevalence of ischemic stroke, which accounts for the majority of all stroke cases. “There are two types of stroke: hemorrhagic and ischemic. Ischemic strokes are from 70 percent to 90 percent of all strokes, depending on the sources. It is a huge burden not only for the American population but globally, said Kenessary.
He said that in the US, the financial burden of post-stroke rehabilitation is staggering, with insurance firms spending anywhere from 40,000 dollars to 120,000 dollars per patient on average.
