BRIEF — Reig Jofre and LeanBio co-launch biosimilars operation

Pharma company Reig Jofre and biotech LeanBio have announced the launch of Syna Therapeutics.

The new enterprise will target the biosimilars market and is to be headed by LeanBio founder and CEO Andreu Soldevila.

Syna Therapeutics will have to finance 9 million euros ($11 million) to carry out the early stages of development. The founding partners will split the initial capital, estimated at 2 million euros.

Though the founding partners believe in their ability to succeed without further support, they have stated they are open to a third commercial partner injecting capital into the operation.

With Syna Therapeutics, Reig Jofre plans to expand its portfolio of high-added-value injectables and refreezable products.