HitGen Announces Research Agreement with Nitrase Therapeutics Focuses on Drug Discovery Based on DNA-Encoded Libraries

CHENGDU, China, December 11, 2022 /PRNewswire/ — Shanghai-traded HitGen Inc. (“HitGen”, SSE: 688222.SH) today announced that it has entered into a research agreement with Nitrase Therapeutics, Inc. (“Nitrase”), a biopharmaceutical deploying its NITROME platform to build a pipeline of therapeutics targeting nitrase, which is a new class of enzymes discovered by Nitrase that are involved in a wide variety of diseases.

Nitrases have been implicated in a number of devastating diseases, including Parkinson’s disease, cancer, respiratory disease, fibrosis and other neurodegenerative diseases. Nitrase’s NITROME platform has generated leads for the inhibition of nitrase enzymatic reactions that can cause disease and is developing drugs based on the newly discovered role that protein nitration plays in disease.

HitGen will apply its DNA-encoded library (DEL) technology platform focused on DEL design, synthesis and screening to discover compounds that bind to certain targets that are of interest to Nitrase. Under the terms of the agreement, HitGen will receive an undisclosed upfront payment and be entitled to milestone payments from Nitrase.

HitGen is a world leader in DEL technology development and applications for early stage small molecule drug discovery. The availability of over 1.2 trillion small molecules generated by DEL technology and the efficiency of the screening process have allowed HitGen to enable drug discovery projects for many organizations worldwide.

Nitrase Therapeutics has made groundbreaking discoveries in the role of protein nitration, caused by company-discovered enzymes called nitrases, in various diseases,” he said Pierre BeaurangPh.D., Chief Executive Officer of Nitrase Therapeutic. “We have identified over 30 nitrases to date and look forward to working with HitGen to expand our existing pipeline of nitration-modulating compounds for the development of new therapeutics.”

“It is very exciting for us to work on this new target class with Nitrase. As one of HitGen’s four core technology platforms, DEL is an efficient ‘engine’ to advance drug discovery. We look forward to working closely contacted Nitrase scientists to identify new hits from HitGen’s DNA-encoded libraries and generate new lead compounds for their research programs to address unmet medical needs associated with Parkinson’s disease and other diseases,” he said Dr. JinLiChairman of the Board and Chief Executive Officer of HitGen.

Of Nitrase Therapeutics, Inc.

Nitrase Therapeutics is a pioneering biopharmaceutical company implementing its unique NITROME platform to unlock the therapeutic potential of nitrases, a new class of enzymes it discovered, to develop a pipeline of therapeutics against a broad range of diseases. The medicines that Nitrase Therapeutics is developing will target these enzymes and potentially help slow or halt the progression of numerous diseases in which nitrases and nitro-substrates play a role, including Parkinson’s disease, cancer, immunological diseases and fibrotic. Nitrase Therapeutics (under its former name Nitrome Biosciences) has been widely recognized and has won numerous awards including the prestigious Target Advancement grant from the Michael J. Fox Foundation for Parkinson’s Research (MJFF). Nitrase Therapeutics is located at Brisbane, CA, and its investors include Sofinnova Partners, AbbVie Ventures, Dementia Discovery Fund, Bristol Myers Squibb, Mission Bay Capital and Alexandria Venture Investments. For more information, visit the company’s website at www.nitrasetx.com.

About HitGen Inc.

HitGen Inc. (SSE: 688222.SH), is a drug discovery research company headquartered in Chengdu, Chinaand branches in Cambridge, UK And Houston, United States of America. HitGen has established leading technology platforms to enable the discovery and optimization of small molecule and nucleic acid-based drugs. Our key technology platforms include DNA-encoded library (DEL) technology, fragment-based drug discovery and structure-based drug design (FBDD/SBDD) technologies, synthetic therapeutic oligonucleotide (STO) technology, and targeted protein degradation (TPD) technology. Through our diverse and flexible business models, we have built collaborative partnerships with several hundred biopharmaceutical research organizations around the world. HitGen has multiple programs from initial discovery to clinical trial stage.

For more information, call +86-28-85197385, +1-508-840-9646 or visit www.hitgen.com.

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SOURCE HitGen Inc.

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