Subject: Merger/Acquisition
HitGen Announces Strategic Collaboration with Janssen to Design and Build Novel DNA-Encoded Libraries
HitGen Inc. ("HitGen") is pleased to announce that the company has entered into a strategic collaboration with Janssen Biotech, Inc. ("Janssen"), one of the Janssen Pharmaceutical Companies of Johnson & Johnson, to design and build novel DNA-encoded libraries ("DELs") to discover unique small molecule assets. The collaboration will apply HitGen's advanced technology platform and research capabilities in the design and synthesis of multiple proprietary DELs for Janssen drug discovery and development efforts. The collaboration was facilitated by Johnson & Johnson Innovation and builds upon the success of earlier agreements for the identification of hits using HitGen's platform for various priority targets.
"We look forward to working closely with Janssen to design and build proprietary DELs to support the discovery of a new generation of medicines to address unmet clinical challenges. This collaboration reflects HitGen's capabilities, expertise, and flexibility to develop business models to meet the needs of our collaboration partners and reflects insight into the success of our initial target-based collaboration," 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 based in Houston, TX USA. HitGen has established an industry-leading platform for early-stage drug discovery research focused 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 synthesized 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, including so-called "hard to drug" classes such as protein-protein interactions. 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.
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