CHENGDU, China--(BUSINESS WIRE)--NetVation DL Medicine (“DL Medicine”), a privately held biotechnology company based in Chengdu, China, and focused on the discovery and development of novel drug candidates, announced today that it has entered into a two-year research collaboration with Pfizer Inc (NYSE: PFE). Under the terms of the agreement, DL Medicine will screen and collaborate with Pfizer in producing new chemical entities against pre-selected targets from multiple therapeutic areas. As part of the collaboration, Pfizer has taken a financial stake in DL Medicine.
DL Medicine utilizes resources, funding and emerging technologies from the expanding biotechnology capabilities of the growing life sciences industry in China and employs novel approaches to identify and develop new drug candidates.
Research conducted under this collaboration will utilize HitGen’s DNA-encoded libraries to validate early targets, identify novel chemical matter, and conduct lead optimization. . Compounds that meet specific requirements will be advanced further in the discovery process. Additional screening technology platforms will also be utilized.
Dr Wei Chen, CEO of DL Medicine, said: “We are delighted to announce this collaboration with Pfizer, and we look forward to working together to potentially discover new chemical entities for the treatment of diseases that negatively impact the health of patients worldwide.”
“New target ideas and novel chemical matter are critical to our success in bringing new therapies to patients around the world,” said Yuan-Hua Ding, Executive Director, External Science & Innovation, Pfizer. “This collaboration represents our worldwide commitment to partnering with companies that are doing innovative scientific work to help enhance our portfolio across multiple disease areas.”
About NetVation DL Medicine
DL Medicine is a newly formed discovery stage company dedicated to apply emerging technologies to expedite the drug discovery process, financed by HitGen and Anlong, a healthcare focused fund backed by Chinese Academy of Sciences. In addition, to learn more about NetVation DL Medicine, please visit us on www.nvdlmed.com.
About Pfizer Inc
At Pfizer, we apply science and our global resources to bring therapies to people that extend and significantly improve their lives. We strive to set the standard for quality, safety and value in the discovery, development and manufacture of health care products. Our global portfolio includes medicines and vaccines as well as many of the world's best-known consumer health care products. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as one of the world's premier innovative biopharmaceutical companies, we collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 150 years, we have worked to make a difference for all who rely on us. We routinely post information that may be important to investors on our website at www.pfizer.com. In addition, to learn more, please visit us on www.pfizer.com and follow us on Twitter at @Pfizer and @Pfizer_News, LinkedIn, YouTube and like us on Facebook at Facebook.com/Pfizer.