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HitGen Enters into DNA-Encoded Library Based Drug Discovery Research Collaboration with Genentech

December 3, 2018

CHENGDU, China--(BUSINESS WIRE)--Dec 3, 2018--HitGen Ltd today announced that it has entered into a drug discovery research collaboration with Genentech, a member of the Roche Group, to identify potential small molecule leads against targets of interest to Genentech. In this collaboration, HitGen will apply its technology platform, based on DNA-encoded library design, synthesis and interrogation, to discover novel leads. Under the terms of the agreement, HitGen will receive an undisclosed upfront payment and will be eligible for milestone payments from Genentech.

“We are delighted to enter this collaboration with Genentech, an industry leader in small molecule research and development. We believe the collaboration reinforces the role of HitGen’s platform in the rapidly developing field of DNA-encoded chemistry. We will work closely with Genentech scientists to generate new lead compounds for their research programs to help bring transformative medicines to patients,” said Dr. Jin Li, Chairman and CEO of HitGen.

About HitGen Ltd

HitGen is a rapidly growing biotech company with headquarters and custom-built research facilities based in Chengdu, China, with a subsidiary in USA. HitGen has established an industry-leading platform for early-stage drug discovery research centred on DNA encoded chemical libraries (DELs). HitGen’s DELs include encoded syntheses for more than 300 billion novel, diverse, drug-like small molecule and macrocycle compounds. These compounds are members of DELs synthesised from many hundreds of distinct chemical scaffolds, designed and assembled with tractable chemistry based on proven results for identifying drug-like leads against biological targets from known and novel classes. HitGen is working with multiple pharmaceutical and biotech companies, foundations and research institutes to discover and develop the novel therapeutics of the future.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181203005443/en/

CONTACT: For further information, please contact:

Dr. Jin Li, Chairman & CEO, HitGen Ltd. Tel: +86 28 85197385

Dr. Barry Morgan, Chief Scientific Officer, HitGen Ltd. Tel: +1 508 840 9646

KEYWORD: ASIA PACIFIC CHINA

INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY GENETICS PHARMACEUTICAL RESEARCH SCIENCE

SOURCE: HitGen Ltd

Copyright Business Wire 2018.

PUB: 12/03/2018 07:00 AM/DISC: 12/03/2018 07:01 AM

http://www.businesswire.com/news/home/20181203005443/en

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