CHENGDU, China--(BUSINESS WIRE)--HitGen Ltd announced that the company has entered into a research collaboration with the Crop Science division of Bayer to identify novel small molecule leads for targets of interest. In this collaboration, HitGen will apply its advanced technology platform, based on DNA-encoded library design, synthesis and screening, to discover novel leads for Bayer research endeavours. Under the terms of the agreement, HitGen will receive upfront payments, and be eligible for milestone payments from Bayer. Specific financial details were not disclosed.
“We are delighted to enter this collaboration with Bayer, a global leader in finding solutions for enabling sustainable agriculture. This collaboration further emphasizes the role of HitGen in the rapidly developing field of DNA-encoded chemistry, and extends the application of the technology into the science of crop protection. We will work closely with Bayer scientists to generate new lead compounds for their research programmes to develop new solutions to agricultural challenges.” said Dr. Jin Li, Chairman of the Board and Chief Executive Officer of HitGen.
“Our research and development (R&D) platforms are supplemented by what we call an ‘open innovation’ model,” said Axel Trautwein, Head of Small Molecules, Crop Science division of Bayer. “HitGen’s experience in DNA-encoded chemistry fits that model well, and we look forward to using their advanced technology platform to develop solutions that help farmers control existing crop threats and get ahead of emerging ones.”
About HitGen Ltd
HitGen is a rapidly growing biotech company with headquarters and main research facilities based in Chengdu, China and with offices in the USA. HitGen has established a platform for small molecular discovery centred around DNA the design, assembly and interrogation of encoded chemical libraries (DELs). HitGen’s DELs contain more than 300 billion novel, diverse, drug-like small molecule and macrocyclic compounds. These compounds are members of DELs synthesised from many hundreds of distinct chemical scaffolds, designed with tractable chemistry, and yielding proven results for the discovery of small molecule leads against precedented and unprecedented classes of biological targets. HitGen is collaborating with pharmaceutical, biotech, and chemical companies, foundations and research institutes in Asia, North America, Africa and Europe to discover and develop approaches for novel medicines and agrochemical solutions.