The Biotech Ecosystem in Armenia is rapidly growing and we are pleased to share with you a snapshot of this health innovation market as of 2024.
Several startups have now taken roots in Armenia, from American companies BostonGene unicorn (branch of US company since 2022) providing biomedical software and AI for advanced personalized treatment in oncology, to more recently GrittGene Therapeutics focused on finding a cure for myotonic dystrophy through CRISPR gene editing therapies. Uray, founded by Russian entrepreneurs, is based in Singapore and has established its team in Armenia, developing an Al-powered, photonics-driven urinalysis platform that contributes to the innovation in the country’s biotech ecosystem. Homegrown startups are also developing fast such as Modicus Prime, Denovo Sciences, BiosimAI, Foldink and AIP Scientific covering drug discovery, bioinks and bioimplants.
Armenia’s biotech landscape is further strengthened by academic research groups like SPC “Armbiotechnology” NAS RA, Cobrain Scientific-Educational Center, Armenian Bioinformatics Institute and B-on labs from Foundation for Armenian Science and Technology (FAST), in addition to the biotech related departments of Yerevan State University, Russian – Armenian University, and Yerevan State Medical University named after Mkhitar Heratsi.
Armenians CRO are also providing outsourced services to other countries with companies such as ClinChoice, NoyMed CRO, Quantori, Atlant Clinical (from Agenus), Paspigioni, TONUS-LES LLC, Gurus LLC, STATECS, Armat Analytics, BioBrain Pro, Soleil Partout, ClinSoft LLC, FAARO and IMMONC.
This ecosystem is more and more fueled by VC investors such as Granatus Ventures, Triple S Ventures, SmartGateVC, Covenant Venture Capital, and angel investment from Science and Technology Angels Network (STAN) or BANA Angels.
Our mission at Vickino is to promote health innovation and support companies on their way to success! From market intelligence and audits, to strategic planning, and connecting with investors and partners to support fundraising and growth, we’re committed to helping biotech innovators turn their ideas into impactful solutions. Together, we can drive the future of biotech forward!
