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LG Chem to create new-drug developing platform with Chinese partner
  • By Lee Han-soo
  • Published 2018.08.17 14:08
  • Updated 2018.08.17 14:08
  • comments 0

LG Chem said Friday that it has signed a cooperative agreement with HitGen, a Chinese DNA screening company, to establish a platform for new drug development.

Under the accord, LG Chem plans to identify candidate substances using HitGen's DNA-encoded chemical libraries technology (DELs), which is the company’s proprietary platform technology.

HitGen's platform uses DNA cryptography, which will make it possible for LG Chem to screen leading substances efficiently and quickly based on a library that contains a significant amount of low molecular elements. The company expects that such broad data will increase opportunity for finding new drug candidates.

LG Chem will acquire a proprietary right to develop and commercialize candidates derived from this joint research.

“The core of LG Chem's open innovation strategy is to develop innovative new drugs using new platform technologies, thereby furthering R&D expertise,” said Son Jee-woong, head of LG Chem's Life Science Business Division. “By combining the accumulated R&D capabilities of LG Chem with the advanced platform technology of HitGen, we will speed up the search for innovative candidate substances.”

HitGen was equally enthusiastic about the cooperative agreement.

“We are pleased to cooperate with LG Chemical, which is one of the leading companies that represent the Korean chemical industry,” HitGen CEO Jin Li said. “We will work closely with LG Chem to find new drugs that can solve the unmet medical needs.”

corea022@docdocdoc.co.kr

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