HitGen and Kaken Enter Into License Agreement

CHENGDU, China--(BUSINESS WIRE)--HitGen Inc. (HitGen) announced today that HitGen and Kaken Pharmaceutical Co., Ltd. have entered into a license agreement to develop a novel class of drugs. This is the second licensing agreement. The licensed compounds were identified using HitGen’s leading technology platform, which involved screening large DNA encoded libraries, containing over 400 billion of small molecules with drug-like properties synthesized on chemically diverse scaffolds. A number of novel small molecule leads for an undisclosed target nominated by Kaken were the subject of this license agreement.

Under the terms of collaborative agreement, HitGen will grant exclusive rights to Kaken for further development and commercialization, and be eligible for preclinical and clinical milestone payments from Kaken as the project progresses, in addition to upfront license fee.

“We are delighted to announce this new licensing agreement with Kaken in such a short time. The successful identification of these licensed compounds has further demonstrated the effectiveness and efficiency of our DEL platform to discover novel small molecules against a variety of targets, including those previously challenging ones. We look forward to seeing the progress made by Kaken,” said Dr. Jin Li, Chairman of the Board and Chief Executive Officer of HitGen.

About Kaken

Kaken (Tokyo Stock Exchange: 4521) is a specialty pharmaceutical company in Japan with strong experience in developing and commercializing novel pharmaceuticals and medical devices in the fields of orthopedics, dermatology and surgery. Kaken concentrates its R&D resources in inflammation/immunology (dermatitis, rheumatoid arthritis and osteoarthritis), pain relief and fungal infection areas.

For more information, please visit http://www.kaken.co.jp/english/

About HitGen Inc.

HitGen is a rapidly growing biotech company with headquarter and main research facility based in Chengdu, China and with a subsidiary in the USA. HitGen has established a platform for small molecule drug discovery research centred on the design, synthesis and screening of DNA encoded chemical libraries (DELs). HitGen’s DELs contain over 400 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 yielded 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 North America, Europe, Asia and Africa to discover and develop approaches for novel medicines and other solutions.

For more information, please call [phone] or visit www.hitgen.com.