Scientists began the development of substances based on the polymer chitosan over twenty years ago. Two years ago, 30-year-old physicist Mikhail Gorshenin set about the commercialization of a unique drug which stops venous bleeding in 30 seconds. But not as a physicist: as an entrepreneur. Mikhail has had further training as an economist.
A talented businessman, he already lectures at the Technology Commercialization Centre of the Lobachevsky State University of Nizhny Novgorod. The winner of a business projects competition, Mikhail Gorshenin attracted the attention of American investor Kendrick White who has been supervising his startup ever since. Next came a placement at Perdue University in the US, and then at the University of Maryland where he had the opportunity the get to know not only developers of local biomedical projects but also the mechanisms of their commercialization.
Finance first came from the Bortnik Fund’s UMNIK programme. Now Tectum is participating in two of the Fund’s programmes concurrently: UMNIK and Start. Negotiations are being held with other investors.
"We are holding to the principle that the longer we can manage without investment, the better,” says Gorshenin. “At this moment in time, we are filing an international patent and concluding preclinical trials. After that, our value should rise sharply. If investors manage to put money in before then: great. If not, then they will have to pay even more later on. And they are aware of this themselves.”
Targeted subsidies from the government were set aside for the startup’s patenting.
“I have come to know of many interesting projects,” Mikhail relates. “I will, in all probability, run another project in a similar area, in parallel. It is something we have developed but we are earmarking it for a separate business. These two are more than enough for me: we have to concentrate on the key idea.”
The team is not too big. There are eight medical research experts, and two people (not including consultants) are dealing with the project’s commercialization. Outsourced specialists will be getting involved for the clinical trials.