Bioton of Poland will invest $ 35 mn in venture

WARSAW: Bioton, Poland's largest biotechnology company, will invest $ 35 mn in a joint venture that will operate in India, Finland, Russia and the UK, continuing its international expansion plan.

Warsaw-based Bioton, which will sell shares to pay for 40 per cent of the deal, announced the venture with companies from the MJ Group late yesterday. Bioton will own 50 per cent of the new company.

The venture will give Bioton access to products that are in "advanced phases of development and in the registration process of the European Medicines Agency," helping the company's plans to expand in Western Europe, the company said. Bioton already operates in countries including China and Singapore