The third party manufacturing area Laboratorios Rovi is the one that currently has a more relevant role within the company thanks to thesane reached with Moderna in summer 2020. By virtue of this agreement, from our facilities in Madrid, we are supporting the production of Moderna’s vaccine for Covid-19, supplying markets outside the United States. In addition, we will also participate in the manufacture of the active ingredient in Moderna’s vaccine, this time at our facilities in Granada, starting in the third quarter of this year. In fiscal year 2021, we have a forecast of approximately doubling the revenues of the third-party manufacturing area, compared to the figure for 2020.
Our second growth lever is the expansion of our enoxaparin biosimilar, with which we aspire to become a reference “player” in the low molecular weight heparin (LMWH) submarket. In this context, we must highlight that the ROVI LMWH have been classified by the World Health Organization as essential drugs for patients hospitalized in intensive care units due to Covid-19.
Another of our pillars of growth is our ISM® platform, to which we allocate most of our R&D expenses, which at the end of the first quarter of 2021 amounted to 5.8 million euros, 30% more than in the same period of 2020. Through the ISM technology platform ®, ROVI is developing new products to replace the oral administration of drugs subject to daily intake with long-acting injectables. Through this platform we are already obtaining good results. An example of this is Risperidone ISM®, a long-acting injectable antipsychotic for the treatment of schizophrenia that is currently in the evaluation process for marketing authorization in the European Union and the United States. In addition, we are already working on a second candidate drug that uses the ISM® technology platform. It is the case of Letrozole ISM®, an investigational phase I drug for the treatment of hormone-dependent breast cancer.