Medochemie Ltd, a leading Cyprus-based pharmaceutical manufacturer with an established international footprint, and Theramir Ltd, a biotechnology company specialising in next-generation extracellular vesicle (EV) and microRNA (miRNA)-based therapeutics, has announced a strategic investment and collaboration agreement aimed at accelerating a new era of biotechnology and advanced pharmaceutical manufacturing in Cyprus and Southeast Europe.
The collaboration brings together Medochemie’s established pharmaceutical manufacturing capabilities, including sterile therapeutics, and international reach with Theramir’s expertise in next-generation extracellular vesicle and miRNA-based therapeutics.
Together, the companies will support the development of Good Manufacturing Practice (GMP) capabilities for next-generation biological therapeutics and their progression towards clinical development.
Medochemie believes this collaboration marks an important milestone, not only for Medochemie but for the broader biotechnology landscape in Cyprus. Theramir’s pioneering work in extracellular vesicle and miRNA-based therapeutics represents exactly the kind of high-potential science that our manufacturing expertise, international reach and regulatory experience can help bring closer to patients. By combining our strengths, Medochemie is investing not only in a promising technology platform, but in the future of advanced biomanufacturing in Cyprus, and in the country’s ability to compete on the international biotechnology stage.
Daphne Pittas, Member of the Board of Directors of Medochemie.
Beyond advancing Theramir’s pipeline, the collaboration represents an important step towards strengthening Cyprus’ biotechnology infrastructure, expanding local capabilities in next-generation biomanufacturing, and reinforcing the country’s position as an emerging innovation hub for Southeast Europe and international markets.
Theramir is delighted to welcome Medochemie as both a strategic investor and a key partner in the next stage of Theramir’s development. Moving an innovative therapeutic technology from the laboratory towards patients requires not only strong science, but also the right manufacturing, pharmaceutical and regulatory expertise. This collaboration brings these elements together and represents a major step towards translating our extracellular vesicle platform into clinical applications. As the future of medicine increasingly moves towards biologics and advanced therapeutics, Theramir is particularly proud that two Cyprus-based companies can combine their expertise to strengthen internationally competitive biotechnology and biomanufacturing from Cyprus.
Dr Marianna Prokopi-Demetriades, Co-founder of Theramir
Medochemie Ltd was established in 1976 by Dr. Andreas Pittas and has since evolved into the largest pharmaceutical company in Cyprus and one of the world’s top 200 generic drug manufacturers. Its growth reflects the broader rise of generic medicines in global healthcare, evolving from a limited market role into a key provider of high-quality, affordable medicines worldwide.
Today, Medochemie operates 15 state-of-the-art manufacturing facilities: nine in Cyprus, one in the Netherlands, and five in Vietnam. Its extensive production capabilities enable the company to export its products to 122 countries, supported by 19 core offices and an international network of trusted agents and partners.
Medochemie’s portfolio comprises 630 pharmaceutical products covered by 5,145 marketing authorisations, spanning more than 10 therapeutic categories and including both prescription and over-the-counter medicines.
