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CHENGDU, China

HitGen Inc. today announced that it has entered into a drug discovery research collaboration with Gilead Sciences to identify potential small molecule leads against targets of interest to Gilead. In this collaboration, HitGen will apply its technology platform, based on DNA-encoded library design, synthesis and interrogation, to discover novel leads. Under the terms of the agreement, HitGen will receive an undisclosed upfront payment and will be eligible for milestone payments from Gilead.

“We are delighted to enter this collaboration with Gilead, an industry leader in pharmaceutical research and development. We believe the collaboration reinforces the role and reputation of HitGen’s platform in the rapidly developing field of DNA-encoded chemistry. We will work closely with Gilead scientists to generate new small-molecule lead compounds for their research programs to help bring transformative medicines to patients,” said 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 and custom-built research facilities based in Chengdu, China, with a subsidiary in the 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 400 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 in North America, Europe, Asia and Africa to discover and develop the novel therapeutics of the future.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190603005445/en/