China-based HitGen Inc. (SHA: 688222) has announced a research collaboration agreement with South Korea’s Daewoong Pharmaceutical Co., Ltd. Under the deal, HitGen will leverage its DNA-encoded library (DEL) technology platform to discover compounds that bind to specific targets identified by Daewoong. Financial details of the collaboration were not disclosed.
Daewoong Pharmaceutical Profile
Daewoong Pharmaceutical operates local subsidiaries, research institutes, and factories in eight countries worldwide, including Indonesia, the United States, and China, with South Korea as its central hub. The company has biopharmaceutical research, development, and production bases in Indonesia. Daewoong is currently developing innovative new drugs globally in various therapeutic areas, including gastroesophageal reflux disease (GERD), diabetes, pulmonary fibrosis, and autoimmune diseases, with the goal of creating first- or best-in-class products.
HitGen Profile and Technology Platforms
HitGen is a drug discovery research company headquartered in Chengdu, China, with subsidiaries in Cambridge, UK, and Houston, Texas, USA. The company has established leading technology platforms to enable the discovery and optimization of small molecules and nucleic acid drugs. HitGen’s core technology platforms include DNA-encoded library technology (DEL), fragment-based drug discovery and structure-based drug design technologies (FBDD/SBDD), synthetic therapeutic oligonucleotide technology (STO), and targeted protein degradation technology (TPD). HitGen has partnered with several hundred biopharmaceutical research organizations worldwide and has multiple programs ranging from early discovery to clinical trial stages.-Fineline Info & Tech
