RAFA To Add Major Component to the Tashkent Pharma Park

Rhea-AI Summary

Rafarma Pharmaceuticals (RAFA) has partnered with Czech engineering firm Block to construct a scientific and pharmaceutical complex in Uzbekistan's Tashkent Pharma Park. This project includes a facility aimed at producing over 1 million liters of blood plasma annually, requiring an investment exceeding $50 million. The initiative is set to bolster Uzbekistan's position in the global pharmaceutical landscape, establishing it among the top 10 countries for blood component fractionation. The first phase of construction aims to begin in summer 2022, focusing on cancer drug production.

Positive

• Investment of over $50 million in the Tashkent Pharma Park project.
• Establishment of a facility capable of processing over 1 million liters of blood plasma annually.
• Positioning Uzbekistan as a leader in blood component fractionation globally.

Negative

• None.

Nicosia, Cyprus, Dec. 17, 2021 (GLOBE NEWSWIRE) -- Rafarma Pharmaceuticals, Inc. OTC:(RAFA) and the Czech company “Block” signed an agreement on the implementation of the construction of a scientific and pharmaceutical complex in the territory of the Tashkent Pharma Park in Uzbekistan. The new partner of the promising project is the multinational engineering group BLOCK with a unique specialization and experience in the field of healthcare and pharmacology. The interests of Rafarma in this agreement will be represented by the company RAFA Therapeutics Uzbekistan.

In accordance with the agreement, Block will undertake the design of the future complex, including a system of clean laboratory rooms with all the necessary equipment within the framework of the project. The centerpiece will be a project for a plant to produce drugs from human blood plasma with a potential processing capacity of more than 1 million liters of plasma per year and an investment volume of more than US $50 million dollars. Its launch will allow Uzbekistan to become one of the 10 countries in the world with the largest fractionation plants for the processing of blood components.

We plan to complete the design work in April 2022 and begin construction of the first phase of the plant in the summer of 2022.

This latest development is part of Rafarma Pharmaceuticals’ previous announcement to build a scientific and pharmaceutical complex in the territory of the 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, the project provides for the creation of a network of laboratories for the collection of blood plasma, the total investment is US $85 million dollars. Experts recognize these construction plans as the largest innovative project of the industrial zone of the Tashkent Pharma Park pharmaceutical cluster.

Forward-Looking Statements: This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as “may”, “will”, “to”, “plan”, “expect”, “believe”, “anticipate”, “intend”, “could”, “would”, “estimate,” or “continue”, or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risk, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date hereof. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with OTC Markets. Except as required by law, we assume no obligation to update these forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

For more information contact:
RAFARMA
(307) 429-2029

FAQ

What is Rafarma Pharmaceuticals' recent project in Uzbekistan?

Rafarma Pharmaceuticals is constructing a scientific and pharmaceutical complex in Uzbekistan's Tashkent Pharma Park, focusing on blood plasma products and cancer drugs.

How much is Rafarma investing in the Tashkent Pharma Park project?

Rafarma is investing over $50 million in the construction of the facility.

When will the construction of the Rafarma facility begin?

Construction of the first phase of the facility is expected to begin in summer 2022.

What is the purpose of the complex being built by Rafarma?

The complex will produce drugs from human blood plasma and cancer medications.

Why is the Rafarma project significant for Uzbekistan?

It will make Uzbekistan one of the top 10 countries with large blood component fractionation plants, enhancing its pharmaceutical capabilities.