Pharmbiotech Oy, the Finnish subsidiary of the Russian biotechnology company Biopharmos Co. Ltd, plans to start biomass production for the medical and food industries in Hamina, south-eastern Finland, by the end of 2014. The project investment is approximately EUR 2 million and the installation of equipment at the plant located near the Port of Hamina could start in March, after contracts are finalized.
According to Biopharmos’ CEO Oleg Kotin, the company is also interested in establishing a research centre with the Lappeenranta University of Technology. Kutin told Yle news that the research centre would be part the company locating its production in Finland.
Biopharmos has been working in the field of biotechnology growth of rare medicinal plants, transfer to the cell culture of higher plants and biotransformation since 1987. Its customers include pharmaceutical companies, functional food & beverage producers, cosmetics companies, dietary supplements producers, and Life Science products distributors.