On May 20, 2022 NetVation DL Medicine ("DL Medicine"), a privately held biotechnology company based in Chengdu, China, and focused on the discovery and development of novel drug candidates, reported that it has entered into a two-year research collaboration with Pfizer Inc (NYSE: PFE) (Press release, Pfizer, MAY 20, 2022, View Source [SID1234615153]). Under the terms of the agreement, DL Medicine will screen and collaborate with Pfizer in producing new chemical entities against preselected targets from multiple therapeutic areas. As part of the collaboration, Pfizer has taken a financial stake in DL Medicine.

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DL Medicine utilizes resources, funding and emerging technologies from the expanding biotechnology capabilities of the growing life sciences industry in China and employs novel approaches to identify and develop new drug candidates.

Research conducted under this collaboration will utilize HitGen’s DNA-encoded libraries to validate early targets, identify novel chemical matter, and conduct lead optimization. . Compounds that meet specific requirements will be advanced further in the discovery process. Additional screening technology platforms will also be utilized.

Dr Wei Chen, CEO of DL Medicine, said: "We are delighted to announce this collaboration with Pfizer, and we look forward to working together to potentially discover new chemical entities for the treatment of diseases that negatively impact the health of patients worldwide."

"New target ideas and novel chemical matter are critical to our success in bringing new therapies to patients around the world," said Yuan-Hua Ding, Executive Director, External Science & Innovation, Pfizer. "This collaboration represents our worldwide commitment to partnering with companies that are doing innovative scientific work to help enhance our portfolio across multiple disease areas."