HitGen Ltd announced that the company has entered into a research collaboration with Takeda Pharmaceutical Company Limited to discover novel small molecule leads for multiple targets in Takeda’s therapeutic areas of interest. According to the agreement, HitGen will apply its advanced technology platform, based on DNA-encoded library design, synthesis and screening, to discover novel leads which will be licensed exclusively to Takeda. Under the terms of the agreement, HitGen will receive upfront compensation, and be eligible for milestone payments from Takeda. Specific financial details were not disclosed.
“We are very pleased to enter this collaboration with Takeda, Japan’s largest pharmaceutical company. This world-wide collaboration further underscores the growing recognition and impact of DNA-encoded libraries for innovative drug discovery research. It also confirms the role of HitGen in this rapidly developing field. We will work closely with Takeda 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.