HitGen Ltd announced that the company has entered into a drug discovery research collaboration with Biogen to identify novel small molecule leads for targets of interest. In this collaboration, HitGen will apply its technology platform, based on DNA-encoded library design, synthesis and interrogation, to discover novel leads which will be licensed exclusively to Biogen. Under the terms of the agreement, HitGen will receive upfront payments, and be eligible for milestone payments. Specific financial details were not disclosed.

"We are delighted to enter this collaboration with Biogen, 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 Biogen 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.

"We look forward to collaborating with HitGen to identify new small molecule leads from DNA-encoded libraries. Through this collaboration, we hope to advance drug candidates that could eventually translate into new treatment options for patients living with serious neurological conditions," said Dr. Anabella Villalobos, senior vice president and head of Biotherapeutics and Medicinal Sciences at Biogen.

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