Intas Pharma, Syna Therapeutics ink pact for commercialization of LB-0702 in Global Markets
Ahmedabad: 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.
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."
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Intas Pharmaceuticals Ltd. is a 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 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.
