Sun Pharma’s Research arm collaborates with Chinese Co HitGen

CHENGDU | VADODARA (BARODA) | MUMBAI | RAJKOT – In a press release submitted to the Indian Stock Exchanges, Sun Pharma Advanced Research Co (SPARC) Ltd said of having tied-up with Chengdu (China) headquartered HitGen to identify and discover novel small molecule leads, for SPARC.

HitGen and SPARC have entered DNA-Encoded Library Based Innovative Drug Discovery Research Collaboration, the release read.

HitGen Ltd. and Sun Pharma Advanced Research Company Ltd. (SPARC) today announced a research collaboration to identify novel small molecule leads for targets of interest.

Under this collaboration, HitGen will apply its advanced technology platform, based on DNA-encoded library design, synthesis and screening, to discover novel leads for SPARC.


Under the terms of the agreement, HitGen will receive upfront payment and will be eligible for certain milestone payments.

Commenting on the development, HitGen Chief Executive & Chairman of the Board, Dr Jin Li said,

“We are delighted to enter into collaboration with SPARC, a global pharmaceutical company headquartered in Mumbai. This collaboration further emphasizes the role of HitGen in the rapidly developing field of DNA-encoded chemistry. We will work closely with SPARC scientists to generate novel leads for their innovative research programs to address unmet medical needs.”

 


Whereas Anil Raghavan, Chief Executive Officer of SPARC said,

“We believe Hitgen’s unique DNA-encoded library based screening platform combined with SPARC’s in-house research expertise, shall accelerate our drug discovery efforts. We look forward to collaborating with Hitgen to bring innovative medicines for patients with serious medical conditions.”

 


The company’s announcement hit the exchanges in India in early hours, prior to opening of trading session on the Indian Bourses.

However, when the markets opened, investors & traders reacted positively to the news, which got very well reflected into the share price of the company, which spiked immediately, as soon as floors were opened for trading and continued to trail in Green zone on positive counters.


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