HitGen Ltd, a Chinese biotech company, announced that the company has entered into a drug discovery research collaboration with Boehringer Ingelheim to identify novel small molecule leads for targets of interest to Boehringer Ingelheim.
In this collaboration, HitGen will apply its advanced technology platform, based on DNA-encoded library design, synthesis and screening, to discover novel leads for Boehringer Ingelheim. Under the terms of the agreement, HitGen will receive upfront payments, and be eligible for milestone payments from Boehringer Ingelheim.
“We are delighted to enter this collaboration with Boehringer Ingelheim, a major research based pharmaceutical company providing world-wide benefits to patients. This collaboration further emphasizes the role of HitGen in the rapidly developing field of DNA-encoded chemistry. We will work closely with Boehringer Ingelheim scientists to generate new lead compounds for their research programmes to address unmet medical needs.” said Dr. Jin Li, Chairman of the Board and Chief Executive Officer of HitGen.