On June 7, 2020 HitGen (688222.SH) reported that it has entered into a drug discovery research collaboration with Evotec SE to identify small molecule leads against targets of interest to Evotec SE in the field of anti-infectives (Press release, HitGen, JUN 7, 2020, View Source [SID1234560882]). HitGen will apply its platform technology, based on the design, synthesis and screening of DNA-encoded libraries (DEL) to discover compounds that bind to certain targets. The identified compounds will be exclusively licensed to Evotec SE. Under the terms of the agreement, HitGen will receive an undisclosed upfront payment and license fee from Evotec SE.

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"We are delighted to enter this collaboration with Evotec SE, a leading drug discovery alliance and development partnership company with tremendous success in collaborative R&D. We look forward to working closely with Evotec SE research teams to deliver novel small molecules to their programs," said Dr. Jin Li, Chairman of the Board and Chief Executive Officer of HitGen.

"HitGen DEL screening platform offers tremendous potential to identify a small molecule binder to Evotec’s target of interest," said Kara Carter, Executive Vice President Infectious Disease from Evotec SE.