India Pharma Outlook Team | Tuesday, 15 November 2022
HitGen Inc. announced that it has entered into a research collaboration agreement with Daewoong Pharmaceutical Co., Ltd (“Daewoong”), a global healthcare group in the Republic of Korea, dedicated to improving the quality of patients' lives. HitGen will apply its DNA-encoded library (DEL) technology platform cantered around the design, synthesis and screening of thousands of DELs that collectively comprise over 1.2 trillion small, drug-like molecules to discover compounds that bind to certain targets that Daewoong needs to discover for new drug development.
“It is truly a privilege to work with Daewoong, one of the top pharmas in Korea, comprising a team of very innovative and collaborative researchers. We look forward to initiating the collaboration to identify novel small molecule starting points from DNA-encoded libraries, and we believe that successful results would lead to further expanded collaborations,” said Dr. Jin Li, chairman of the board and chief executive officer of HitGen.
“We are pleased to collaborate with HitGen which has the world’s best DEL screening platform. Daewoong will strengthen its innovative drug development capabilities and improve the quality of life of patients through cooperation with HitGen,” said Seng-ho Jeon, chief executive officer of Daewoong. Based on the vision of "Global Healthcare Group that leads life quality improvement", Daewoong Pharmaceutical develops excellent medicines and supplies them to the global market.
It has established local subsidiaries, research institutes, and factories in eight countries around the world, including Indonesia, the United States, and China, with South Korea as the center. HitGen Inc. is a drug discovery research company with headquarter in Chengdu, China, and subsidiaries in Cambridge, UK and Houston, USA. HitGen has established leading technology platforms to enable the discovery and optimization of small molecules and nucleic acid drugs.
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