HitGen Inc., one of the leading biotechnology companies based out of China, has reportedly partnered with Germany-based Evotec SE to undertake research on drug discovery in the field of anti-infectives.
According to sources familiar with the knowledge of the matter, HitGen will leverage its platform technology, based on design, synthesis, and screening of DEL (DNA-encoded libraries) to develop compounds that bind the specific target. Under the terms and conditions of the deal, the identified compound will be exclusively licensed to Evotec while HitGen will receive a license fee and upfront payment from Evotec SE.
Speaking on which, Dr. Jin Li, Chief Executive Officer of HitGen said that the company is delighted to partner with Evotec SE and is looking forward to working thoroughly with Evotec research teams to deliver new small molecules to their programs.
HitGen DEL screening platform delivers the exceptional potential to identify a molecule binder to the company’s target of interest, said Kara Carter, Exec. Vice President of Infectious Disease at Evotec SE.
Since its establishment, Evotec SE has been partnering with leading pharmaceutical companies to provide the highest quality stand-alone and integrated drug development solutions. In April, the company also collaborated with South Korean pharmaceutical company, Ildong pharmaceutical, to boost the development of numerous Ildong's proprietary projects by using its INDiGO platform.
Both companies agreed to collaborate on three to six projects. As a first project, they evaluated IDG-16177, a glucose-lowering drug candidate, for the treatment of type 2 diabetes.
About Evotec SE
With over 3,000 employees, Evotec SE is dedicatedly providing drug discovery solutions across the globe. It has established expertise and experience in key therapeutic areas including pain and inflammation, diabetes and complications of diabetes, neuronal diseases, oncology, infectious diseases, fibrosis, and respiratory diseases, etc.