Pharmaceutical group Reig Jofre has entered into a strategic alliance with LeanBio, a four-year-old biotech company, to launch a new company focused on the development of biosimilars and ‘innovative’ molecules.
Much like its parent companies, Syna Therapeutics will be headquartered in Barcelona, Spain, where LeanBio’s founder Dr Andreu Soldevila will take the helm of the new business while Gabriel Roig becomes president of the board of directors.
Hoping to tap into a global biosimilar market of around €1,000m, Syna Therapeutics’ expertise will comprise of LeanBio’s biological development experience and Reig Jofre’s capability in formulation, stabilisation and pharmaceutical development of biological and injectable products.
Dr Soldevila said: “The development of a biosimilar is highly complex and one of the most important technological challenges of recent years.
“Bringing patients closer to biological treatments in a more sustainable way for national health systems means in addition a great social impact in a huge market.”
Syna Therapeutics will have to finance €9m to carry out the early stages of development, with the founding partners both contributing the initial capital estimated at €2m.
The new company has said it will also consider the entry of new financial or industrial commercial partners to support clinical development in its final stages.