Chengdu, China, July 6, 2020 – HitGen Inc. (HitGen, 688222.SH) announced today that HitGen and Morphic Therapeutic have extended their drug discovery research collaboration to identify small molecule leads against targets specified by Morphic. HitGen’s industry-leading DNA-encoded library (DEL) technology platform includes over 400 billion encoded syntheses of small molecules with drug-like properties, synthesized on chemically-diverse scaffolds. The collaboration is an extension of a previous agreement which identified active lead compounds that were exclusively licensed to Morphic.
Under the terms of the extended agreement, HitGen will use its platform technology, based on the design, synthesis and interrogation by selection of DELs to discover ligands for targets of interest to Morphic. Morphic will pay an assignment fee to HitGen in exchange for exclusive development and commercialization rights to compounds that achieve the criteria of the collaboration.
“The HitGen DEL platform provides chemical libraries that are excellent starting points for Morphic to expand the diversity of our compound collection targeting integrin receptors,” commented Bruce Rogers, PhD, Chief Scientific Officer at Morphic Therapeutic Inc. “We are enthusiastic to expand this collaboration and build upon our previous work together.”
“We are delighted to announce the extension of our collaboration with Morphic Therapeutic. The delivery of compounds under our initial agreement demonstrates the ability of our DEL platform to discover novel small molecule ligands against a variety of technically challenging targets. We look forward to further success in identifying small molecule compounds in our continued collaboration with Morphic”, noted Dr. Jin Li, Chairman of the Board and Chief Executive Officer of HitGen.
About HitGen Inc.
HitGen is a rapidly growing biotech company with headquarters based in Chengdu, China, with a subsidiary in the USA. HitGen has established an industry-leading platform for early-stage small molecule drug discovery centered on DNA encoded chemical libraries (DELs). HitGen’s DELs include encoded syntheses for hundreds of billions of novel, diverse, drug-like small molecule and macrocycle compounds. These compounds are members of DELs synthesized 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 in North America, Europe, Australia and Asia to discover and develop the novel therapeutics of the future.
For more information, please call +86-28-85197385, +1 508-840 9646 or visit www.hitgen.com.
For media inquiries: firstname.lastname@example.org
For investor inquiries: email@example.com
For business development: firstname.lastname@example.org
Building C2, NO.8, Huigu 1st East Road
Tianfu International Bio-Town,
Shuangliu District, Chengdu City,
Sichuan Province,P.R. China
Tel : +86-28-8519-7385
HitGen Pharmaceuticals Inc.(US Subsidiary)
Tel : +1-(508)-840-9646
Granta Park,Great Abington
Tel : +44(0)1223-895555