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The companies have created Syna Therapeutics, a joint venture that will develop biosimilars and new molecules.
Reig Jofre, a Barcelona, Spain-headquarted pharmaceutical company, has created a joint venture with LeanBio, a biotechnology company, to develop biosimilar products and new molecules. The joint venture, Syna Therapeutics, will be owned 50/50 by the two companies.
Under the agreement, Reig Jofre will provide expertise in the formulation, stabilization, and pharmaceutical development of biological and injectable products. Syna Therapeutics will need to finance EUR 9 million (USD$11 million) to carry out early stages of development. The founding partners will contribute both the initial capital, estimated at EUR 2 million (USD$2.4 million), as well as work, knowledge, and experience.
The joint venture will also consider new financial or industrial partners in the coming years that might provide strategic value to the project beyond financing. It may also consider a commercial partner to support clinical development in the final stages of development. The joint venture will be headquartered in Barcelona Science Park (PCB).
Source: Reig Jofre