HitGen and Mitsubishi Tanabe Pharma Enter DNA-Encoded Library Based Innovative Drug Discovery Research Collaboration
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.