The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, announces agreement on key terms of investments of RUB100mn in Oncobox, a company developing solutions for cancer diagnosis based on artificial intelligence (AI).

1. RDIF invests in innovative cancer diagnostics developer Oncobox
Moscow, May 30, 2019 - The Russian Direct Investment Fund (RDIF), Russia’s
sovereign wealth fund, announces agreement on key terms of investments of
RUB100mn in Oncobox, a company developing solutions for cancer diagnosis based
on artificial intelligence (AI).
Oncobox is currently developing a digital platform for performing molecular
diagnostics of cancers. Instantly processing large amounts of patient data, the
platform’s AI selects optimal medications and effective treatment methods.
Oncobox products expand the range of tools that doctors can use to help prescribe the
correct course of therapy. Clinical studies have shown that Oncobox technology
increases the effectiveness of targeted chemotherapy for patients with advanced
cancer up to 70%.
Kirill Dmitriev, CEO of the RussianDirectInvestment Fund (RDIF), said:
“Oncobox is developing a unique product with an innovative approach to treatment.
The advances of artificial intelligence will make the cutting-edge medical
developments available to doctors around the world, significantly increasing patients’
chances of a successfulrecovery.”
Andrew Garazha, CEO of Oncobox, said:
“Oncobox has unique algorithms and databases that allow the most effective
treatment for each patient to be selected. With the support of the RDIF, we hope to
carry out a technological revolution in the standards of treatment for cancer patients,
providing the advances of modern molecular diagnostics and artificial intelligence.”
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Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund
established in 2011 to make equity co-investments, primarily in Russia, alongside
reputable international financial and strategic investors. RDIF acts as a catalyst for
direct investment in the Russian economy. RDIF’s management company is based in
Moscow. Currently, RDIF has experience of the successful joint implementation of
more than 70 projects with foreign partners totaling more than RUB 1.5tn and

2. covering 95% of the regions of the Russian Federation. RDIF portfolio companies
employ more than 700,000 people and generate revenues which equate to more than
5% of Russia’s GDP. RDIF established joint strategic partnerships with leading
international co-investors from more than 15 countries that total more than $40bn.
Further information can be found at www.rdif.ru
Oncobox was established in 2013, the scientific core of the project was based on
promising R&D products by scientists from Lomonosov Moscow State University,
Moscow Institute of Physics and Technology, and their colleagues from Germany. In
2016 the first clinical validation of the system at the University of Mainz was
completed with the support of the Innovation Promotion Fund. In 2017, Oncobox
became the first cancer diagnostics company using AI to be selected by the most
famous business accelerator in Silicon Valley, Y Combinator. The company conducts
registered clinical trials in Germany, Russia, and the USA, collaborates with leading
state and private cancer treatment centers. Since 2017, the company's employees have
published more than 30 articles in leading journals, including Nature Scientific Data,
Seminars in Cancer Biology and Frontiers in Oncology. Further information can be
found at https://oncobox.com/
For additional information contact:
Arseniy Palagin Maria Shiryaevskaya/ Andrew Leach
Russian Direct Investment Fund Hudson Sandler
Press Secretary Tel: +44 (0) 20 7796 4133
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
E-mail: arseniy.palagin@rdif.ru