HitGen and LEO Pharma Enter Research Collaboration
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- Published on Monday, 07 August 2017 19:50
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CHENGDU, China I August 7, 2017 I HitGen Ltd announced that the company has entered into a multi-target multi-year collaboration with LEO Pharma A/S , to discover novel small molecule leads for multiple therapeutic targets of interest to LEO Pharma. According to the agreement, HitGen will use its advanced technology platform, based on DNA-encoded library design, synthesis and screening to discover novel leads which will be licensed exclusively to LEO Pharma. Under the terms of the agreement, HitGen will receive an upfront payment and be eligible for milestone payments from LEO Pharma.
“We are very pleased to renew and expand our collaboration with LEO Pharma, one of the leading specialist pharmaceutical companies in the world. We will work closely with LEO Pharma scientists to help generate new medicines to address unmet medical needs helping patients achieve healthy skin,” said Dr. Jin Li, Chairman of the Board and Chief Executive Officer of HitGen.
“We are excited by renewing and extending our collaboration with HitGen” said Dr. Thorsten Thormann, VP of Research, LEO Pharma. “We are looking forward to expand our ability to identify new leads for multiple target families. HitGen’s DELs will accelerate LEO Pharma’s expertise in bringing new medicine from idea to the clinic. We believe that partnerships and the ability to collaborate play a pivotal role in bringing new and better treatments to patients. And our partnership with HitGen is a clear proof of that.”
About LEO Pharma
LEO Pharma helps people achieve healthy skin. By offering care solutions to patients in more than 100 countries globally, LEO Pharma supports people in managing their skin conditions. Founded in 1908 and owned by the LEO Foundation, the healthcare company has devoted decades of research and development to delivering products and solutions to people with skin conditions. LEO Pharma is headquartered in Denmark and employs around 5,000 people worldwide.
About HitGen Ltd
HitGen is a biotech company with headquarters and main research facilities based in Chengdu, China and with laboratory in Houston, Texas, USA. HitGen has established a unique platform for drug discovery research. Our DNA encoded chemical libraries (DELs) contain more than 85 billion novel, diverse, drug-like compounds. These compounds are members of DELs synthesised from many hundreds of distinct chemical scaffolds, designed with tractable chemistry and proven results for finding drug leads against targets from known and novel protein classes. HitGen is working with multiple pharmaceutical, biotech companies and research institutes to discover and develop novel therapeutics of the future.