Intas Enters into an Exclusive License Agreement with Syna to commercialize LB-0702 in Global Markets
AHMEDABAD, India, Nov. 3, 2022 /PRNewswire/ -- Syna Therapeutics, a joint venture of Reig Jofre and Leanbio, has signed a global rights licensing deal with Intas Pharmaceuticals Ltd. to commercialise its biosimilar drug LB-0702. Under the terms of the agreement, Intas has been granted exclusive licensing rights to commercialize LB-0702 worldwide. Syna will develop and manufacture LB-0702 and supply the product to Intas and its worldwide affiliates. As one of the key players in the global biosimilar market, Accord Healthcare, Intas' wholly-owned subsidiary, has proven commercial capabilities with one of the largest sales and distribution networks in 85 countries globally.
Syna will begin clinical trials for LB-0702 in 2023 with support from its partners Leanbio and Reig Jofre. The company will utilise the technology platforms of Leanbio coupled with the technology production expertise of Reig Jofre at its new manufacturing plant in Barcelona, which is purposed for sterile injectables and lyophilised biopharmaceutical products.
"Signing this deal is one of Syna's most important milestones since the company was founded in 2018 and it confirms the pharmaceutical industry and healthcare systems' growing interest in biosimilar drugs," notes Dr Andreu Soldevila, co-founder and CEO of Syna. "We are delighted with this agreement with Intas because we believe biosimilar LB-0702 will have a very positive impact on healthcare systems. Accord Healthcare, Intas' wholly-owned subsidiary is the ideal partner to commercialize our biosimilar in global markets. With this collaboration, we are committed to further strengthening the value of our biosimilar programs in global markets," he added.
Binish Chudgar, Vice Chairman & Managing Director of Intas Pharmaceuticals, commented, "We are pleased to announce this agreement with Syna Therapeutics. This agreement sets out Accord Healthcare to file for global rights for this critical drug and is in line with our long-term strategy, reinforcing our commitment to improving access to high-quality biosimilar drugs for patients globally."
About Syna Therapeutics
Syna Therapeutics is a joint venture formed by Reig Jofre and Leanbio to develop high-quality biosimilars and innovative molecules to respond to the growing global demand for biological treatments. Syna has extensive experience and know-how in all phases of biosimilar medicines, covering the entire value chain to enable biosimilars to reach patients: cell bank creation, pharma development of the finished product, industrial production, and marketing or license agreements. Founded in 2018, Syna has its headquarters at the Barcelona Science Park. For more information, please visit synatherapeutics.com
About Intas Pharmaceuticals Limited
Intas Pharmaceuticals Ltd. is a leading vertically integrated pharmaceutical company based in Ahmedabad, India, having end-to-end capabilities of formulation development, manufacturing and marketing along with backward integration of APIs. The organisation has more than 18,000 employees and 14 manufacturing sites worldwide and sells products in more than 85 countries. The Intas Group's revenue amounted to USD 2.5 bn in FY 2021-22 and the compounded annual growth rate of revenue has been 22% in the past 5 years. For more information, please visit www.intaspharma.com.
About Reig Jofre
Reig Jofre is a pharmaceutical company listed on the Spanish Stock Exchange market (RJF) dedicated to the R&D, manufacture and marketing of pharmaceutical products and food supplements. Its activity is structured into three business units: Pharmaceutical Technologies (sterile injectables, lyophilised products and antibiotics), Speciality Pharmacare (dermatology, osteoarticular, women's health and paediatrics) and Consumer Healthcare (food supplements and OTC products). Founded in 1929 in Barcelona (Spain), Reig Jofre has over 1,100 employees, 4 development and production centres in Europe and subsidiaries in 8 countries. In 2021, the company's turnover was €236.2 million. More information: reigjofre.com
Leanbio is a market-orientated Contract Development and Manufacturing Organisation (CDMO) that develops and manufactures biopharmaceutical products and new biological entities and biosimilars, using the Lean production and Quality by Design (QbD) approach to maximise success and cut time to market, costs and risks. Founded in 2014 by Dr Andreu Soldevila and Dr Albert Font, the company has four technology platforms and cutting-edge facilities at the Barcelona Science Park. More information: leanbiopro.com
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