Daewoong Collaborates with Chinese HitGen on New Drug Development through 'DNA Screening'
[Asia Economy Reporter Chunhee Lee] Daewoong Pharmaceutical announced on the 14th that it has signed a Master Service Agreement with Chinese company HitGen to discover new drug candidates using HitGen's DNA-Encoded chemical Libraries Technology (DEL) screening platform.
HitGen is a pharmaceutical and biotech company headquartered in Chengdu, China, with major research facilities. The DEL platform attaches amplifiable DNA sequences to target compounds based on a library of over one trillion small molecules, then amplifies and reads them. This method enables rapid screening of billions of diverse small molecules to identify optimal new drug candidates within a short period. It is said to reduce costs and time compared to conventional High-throughput Screening methods.
Daewoong Pharmaceutical plans to strengthen its innovative drug development capabilities and competitiveness by introducing the latest technologies in the discovery of small molecule drug candidates and subsequent clinical entry stages for metabolic diseases, fibrosis, autoimmune diseases, and cancer, areas where it has recently focused its research efforts. This aims to shorten candidate discovery periods and expand its pipeline.
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Seungho Jeon, CEO of Daewoong Pharmaceutical, said, “We are pleased to collaborate with HitGen, which possesses a world-class DEL platform,” adding, “Through cooperation with HitGen, we will accelerate new drug development and improve patients' quality of life.” Jin Li, CEO and Director of HitGen, stated, “It is an honor to work with Daewoong Pharmaceutical’s innovative and collaborative team,” and added, “We expect this collaboration to help Daewoong Pharmaceutical find optimal small molecules suitable for new drug development through HitGen’s DEL platform and hope it will expand into various fields.”
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