NEW YORK (GenomeWeb) — Chinese life sciences firm HitGen announced today that it has signed a multi-year agreement to help Pfizer build and screen novel DNA-encoded libraries (DELs) for drug discovery.
Under the terms of the deal, the companies will use HitGen's technologies to design, synthesize, and screen multiple proprietary DELs that Pfizer will use to discover new small molecule-based drug candidates. HitGen will also screen its own DELs against a selected number of Pfizer's therapeutic targets. Lead compounds identified from HitGen's libraries may be exclusively licensed by Pfizer.
Financial terms of the deal were not disclosed, although HitGen said it will receive research funding from Pfizer.
"We look forward to identifying new opportunities that will further expand our ability to identify new leads for multiple target families," Tony Wood, senior vice president and head of medicinal sciences at Pfizer, said in a statement. "The generation of proprietary DELs will leverage Pfizer's parallel medicinal chemistry expertise and potentially accelerate the path of new medicines from idea to the clinic."