Chengdu, China, December 11, 2018, HitGen Ltd announced that the company has entered into a drug discovery research collaboration with Mitsubishi Tanabe Pharma Corporation (President and CEO: Masayuki Mitsuka; Headquarters: Osaka; “MTPC”) to identify novel small molecule leads for targets of interest. According to the agreement, HitGen will apply its advanced technology platform, based on DNA-encoded library design, synthesis, and screening system, to discover novel lead compounds. The collaboration will use HitGen’s libraries containing more than 300 billion individually DNA-encoded compounds. The DNA encoding of molecules enables screening and analysis of vast chemical space, supporting MTPC’s aim to increase success rates for the generation of target leads for new drugs and to drastically shorten screening timelines for expanding MTPC’s pipeline. Under the terms of the agreement, HitGen will receive technology access and research support payments, and be eligible for milestone payments from MTPC. Financial details were not disclosed.
"We really expect that the collaboration with HitGen will be able to accelerate our drug discovery researches leading to creation of innovative pharmaceuticals. We are engaged in research and development of innovative pharmaceuticals that are valuable to patients, particularly in the fields of central nervous system diseases, autoimmune diseases including rare diseases, and vaccine." said Dr. Hiroaki Ueno, Managing Executive Officer and Head of Sohyaku Innovative Research Division at MTPC.
“We are very pleased to enter into this collaboration with MTPC, a leading pharmaceutical company with over 300-year history in the industry. This collaboration further underscores the growing recognition and impact of DNA-encoded libraries for innovative drug discovery research. We will work closely with MTPC scientists to generate novel leads for their innovative research programs to address unmet medical needs.” 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.
For more information, please visit www.hitgen.com or contact
Dr. Jin Li, Chairman & CEO, HitGen Ltd. Tel: +86 28 85197385 (8001)
Dr. Jian Li, Vice President, Business Development, HitGen Ltd. Tel: +86 28 85197385 (8800)
About Mitsubishi Tanabe Pharma Corporation
Mitsubishi Tanabe Pharma Corporation, which was founded in 1678, has its headquarters in Doshomachi, Osaka, which is the birthplace of Japan’s Pharmaceutical Industry. With business centered on ethical pharmaceuticals, Mitsubishi Tanabe Pharma is a well-established company and has the longest history of any listed company in Japan. In accordance with the corporate philosophy of “contributing healthier lives of people around the world through the creation of pharmaceuticals, “the Company formulated the key concept of Open Up the Future under the Medium-Term Management Plan in 2016-2020. Through the discovery of drugs that address unmet medical needs, centered on its priority disease area – autoimmune disease, diabetes and kidney diseases, central nervous system diseases, and vaccine - Mitsubishi Tanabe Pharma will strive to contribute to the health of patients around the world.
For more information, please visit http://www.MT-Pharma.co.jp/
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HitGen Pharmaceuticals Inc.(US Subsidiary)
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