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China’s HitGen Partners With US Arclight to Develop Central Nervous System Diseases Drugs
Liao Shumin
DATE:  May 13 2022
/ SOURCE:  Yicai
China’s HitGen Partners With US Arclight to Develop Central Nervous System Diseases Drugs China’s HitGen Partners With US Arclight to Develop Central Nervous System Diseases Drugs

(Yicai Global) May 13 -- Chinese biopharmaceutical firm HitGen has signed a five-year strategic partnership agreement with US biotech company Arclight to develop new drugs to treat central nervous system diseases.

The pair will use Hitgen’s leading DNA-Encoded Compound Library and Targeted Protein Degradation tech platforms to detect and develop innovative medicines for diseases including Alzheimer's and Parkinson’s, the Chengdu-based firm said on its official WeChat account today.

The research and development of new treatments for such diseases is extremely difficult because of the non-druggability of relevant targets and the existence of the blood-brain barriers that make it hard for medicines to reach lesions. No effective treatment has yet been found for many of the diseases.

HitGen is a global leader in the sector of DEL technologies, said Steven Tregay, president and chief executive of Arclight. This tie-up will help the company’s TDP and non-TDP projects, as well as those related to new drugs in the screening of hit compounds, and boost the R&D of new drugs for central nervous system diseases.

The news failed to lift HitGen’s shares today. The stock [SHA: 688222] ended 1 percent down at CNY13.65 (USD2.01).

Founded in 2012, HitGen has units in Cambridge in the United Kingdom and Houston in the United States It has allied with a number of international pharmaceutical and biotech businesses.

HitGen’s revenue rose 28 percent to CNY310 million (USD45.6 million) last year, with net profit down 1 percent at CNY63.4 million (USD9.3 million). Its investment in core tech platforms and R&D of new drugs hit CNY73.7 million.

Arclight is the drug-detecting engine of Massachusetts-based Arclight Therapeutics. It focuses on tech innovation and business incubation relevant to the R&D of treatments for neurodegenerative diseases.

Editor: Futura Costaglione

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Keywords:   HitGen Inc.,Arclight