FORMA Therapeutics and HitGen Initiate Multiyear Research Collaboration
FORMA expands external discovery research footprint with dedicated unit at HitGen
Watertown, Mass. and CHENGDU, China– May 31, 2018– FORMA Therapeutics and HitGen Ltd. today announced a multiyear research collaboration and license agreement to build and screen proprietary DNA-encoded libraries (DELs). Through this collaborative alliance, scientists from both organizations will contribute innovative library design and screening approaches to identify novel leads against a selected number of FORMA’s therapeutic targets. FORMA will fund the discovery research at HitGen and maintain a world-wide exclusive license for further research and development of any compounds discovered through the collaboration.
“FORMA’s collaborative networks have unlocked pre-competitive insights into therapeutic targets for oncology, neurodegeneration and serious inflammatory disorders. Marrying our proprietary building blocks and novel library design with the scale and platform capabilities of HitGen represents a powerful combination,” said Steven Tregay, Ph.D., CEO and Founder of FORMA Therapeutics. “This alliance will enable both the acceleration from lead selection to clinical candidate nomination, as well as complement our pipeline-in-a-target portfolio whereby we profile multiple scaffolds per target for utility across a multitude of therapeutic areas.”
“We are delighted to announce this major collaboration with FORMA, a highly innovative clinical-stage biotechnology company with a world-class collaborative network, proprietary chemistry and innovative business model,” said Dr. Jin Li, Chairman of the Board and CEO of HitGen. “Our partnership with FORMA is a confirmation of HitGen’s platform expertise and uniquely structured business partnerships tailored to meet the needs of our collaborators. We look forward to identifying lead compounds for multiple target families with FORMA.”
Jonathan C. OConnell, Executive Director of Early Discovery at FORMA Therapeutics and Chair of the FORMA-HitGen Joint Steering Committee added, “We believe that the synergy of FORMA’s highly successful early discovery engine, combined with the scale and insight of HitGen’s DEL platform, uniquely positions FORMA to deliver novel leads for challenging biological targets to address unmet medical need.”
FORMA Therapeutics' scientists are passionate about discovering and developing medicines that will make a difference in oncology, inflammation & immunity, neurodegeneration, and other serious diseases. The Company’s fully integrated R&D team drives discovery and early clinical development of therapeutics for qualified targets in the areas of epigenetics, protein homeostasis, and metabolism. Leveraging a world class network of academic investigators, clinical experts and partners, FORMA combines deep biology insight, chemistry expertise and early clinical development capabilities, to create drug candidates providing profound patient benefit.
FORMA is headquartered in Watertown, MA near the epicenter of the Cambridge Life Sciences cluster, with operations in Watertown, MA and Branford, CT.www.formatherapeutics.com
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About HitGen Ltd.
HitGen is a biotech company with headquarters and main research facilities based in Chengdu, China and with a subsidiary in the USA. HitGen has established a platform for small molecular discovery centred around DNA encoded chemical libraries (DELs). HitGen’s DELs contain more than 100 billion novel, diverse, drug-like small molecule and macrocyclic compounds. These compounds are members of DELs synthesised from many hundreds of distinct chemical scaffolds, designed with tractable chemistry, and yielding proven results for the discovery of small molecule leads against precedented and unprecedented classes of biological targets. HitGen is collaborating with over 50 pharmaceutical, biotech, and chemical companies and research institutes in Asia, North America and Europe to discover and develop approaches for novel medicines.
For more information, please visit: www.hitgen.com
For FORMA Therapeutics
Kari Watson or Kara Mazey, +1 781-235-3060
email@example.com or firstname.lastname@example.org
MacDougall Biomedical Communications
Dr. Jin Li, Chairman & CEO
HitGen Ltd. Tel: +86 28 85197385(Ext.8001)
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