[THE INVESTOR] Chinese biotech firm HitGen said on April 18 that the company has entered into a multi-year research collaboration and license agreement with Pfizer to build and screen novel DNA-encoded libraries, or DEL, in order to potentially discover unique small molecule leads to be used in drug development.

Through the collaboration, HitGen and Pfizer scientists will apply the former’s advanced technology platform and research capabilities in the design, synthesis, and screening of multiple proprietary DELs for Pfizer’s drug discovery efforts.

“We will work closely with Pfizer scientists to build proprietary DELs to support the discovery of a generation of new medicines to address unmet medical needs. This collaboration reflects HitGen’s capabilities, expertise, and flexibility to develop business models to meet the needs of our collaboration partners,” said Jin Li, chairman and CEO of HitGen.

The Chengdu-based firm will screen their own DELs, consisting of billions of compounds, against a selected number of Pfizer’s therapeutic targets. Novel lead compounds from the HitGen DELs will be licensed exclusively to Pfizer for further research and development, while Pfizer will fund the research at HitGen.

“We look forward to identifying new opportunities that will further expand our ability to identify new leads for multiple target families. The generation of proprietary DELs will leverage Pfizer’s parallel drug chemistry expertise and potentially accelerate the development of new medicines,” said Tony Wood, senior vice president and head of medicinal sciences, Pfizer.

By Park Han-na (hnpark@heraldcorp.com)