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HitGen signs drug development licence agreement with Kaken.

M2 EQUITYBITES-April 11, 2019-HitGen signs drug development licence agreement with Kaken

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Chinese biotech company HitGen Inc said on Wednesday that it plans to develop a novel class of drugs under a licence agreement with Kaken Pharmaceutical Co Ltd, a pharmaceutical company in Japan.

The licensed compounds were identified using HitGen's technology platform, which included screening large DNA encoded libraries, containing over 400bn of small molecules with drug-like properties synthesized on chemically diverse scaffolds.

As part of the licence agreement, a number of novel small molecule leads for an undisclosed target were nominated by Kaken.

Pursuant to the collaborative agreement, HitGen will provide the exclusive rights to Kaken for further development and commercialisation and will be eligible for preclinical and clinical milestone payments from Kaken as the project progresses, in addition to upfront licence fee.

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Date:Apr 11, 2019
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