A Silicon Valley company and a Soviet research institute said Wednesday that they agreed to form a joint venture in biotechnology. The arrangement, between RiboGene of Menlo Park and the Institute of Protein Research of the Soviet Academy of Sciences, is believed to be the first Soviet participation in a joint venture using unproven technology. It is also unusual in that, unlike other ventures between Soviets and Westerners, this one will operate in the United States, somewhere in the Silicon Valley.
The Soviets bring to the partnership their expertise in a technology to produce proteins that can be used in research and as the basis for drugs. The Soviets will receive a 15% stake in RiboGene (formerly Transgene) and 49% of the joint venture. RiboGene will control the remainder of the joint venture.