Sołowow invests in biotechnology

Polish tycoon Michał Sołowow invested PLN 12 million in OncoArendi Therapeutics, a company specializing in developing innovative anti-inflammatory and anti-cancer drugs. The sum is to cover R&D work in the next 3 years. “In my opinion, OncoArendi has an exceptional team of outstanding researchers, which increases the chance of finding a solution, which may save lives. The investment has a long-time horizon,” Sołowow told Polish daily Puls Biznesu. OncoArendi was set up in 2012 and has thus far secured PLN 4 million in private financing. Its founders and the management team retain over 70% ownership. Michał Sołowow is one of the richest Polish businessmen with an estimated wealth at over PLN 6 billion. He is a shareholder of Synthos, Cersanit, Echo Investment and Barlinek, among others.