HitGen Announces Drug Discovery Research Agreement with ARase Therapeutics

CHENGDU,China,May 18,2023 -- Shanghai Stock Exchange listed company HitGen Inc. ("HitGen",SSE: 688222.SH) announced today that it has entered into a research agreement with ARase Therapeutics,Inc. ("ARase"),a biotechnology company developing first-in-class therapeutics targeting ADP-ribose hydrolases,novel targets that function in therapeutically proven cancer stress pathways. HitGen will utilize its DNA-encoded library (DEL) technology platform,centered around the design,synthesis and screening of DELs,to identify novel inhibitors of ARase's validated oncology targets. HitGen will also support ARase programs from hit-to-lead chemistry to pre-clinical development.

HitGen is a world leader in the development of DEL technology and applications to early-stage small molecule drug discovery. Their platform includes over 1.2 trillion small molecules generated by the DEL technology and the efficiency of the screening process has made it possible for HitGen to enable drug discovery projects for many organizations around the world.

"We are very excited to work with HitGen. They will be instrumental in progressing our preclinical portfolio and we look forward to leveraging their screening platform and drug discovery capabilities in combination with our deep expertise in ADP-ribosylation and drug development," said Paul Chang PhD. CEO/CSO and founder,ARase Therapeutic.

"I am delighted to see HitGen and ARase enter this drug discovery research collaboration. HitGen's world leading DEL technologies have enabled generation of novel chemical starting points for many innovative discovery programmes by companies like ARase. We look forward to working together with ARase research teams progressing their therapeutic programmes for serious unmet medical needs," said Dr. Jin Li,Chairman of the Board and CEO of HitGen Inc.

About ARaseTherapeutics,Inc.

ARase Therapeutics is a biotechnology company that seeks to unlock the therapeutic potential of ADP-ribose hydrolases,a family of enzymes that play critical roles in cancer relevant cellular stress pathways. Targeting these enzymes represents a novel approach for modulating therapeutically proven DNA damage and replicative stress responses with the potential to impact multiple cancer indications including those with defective DNA repair. ARase is located in Cambridge,MA and funded by Mission BioCapital. For more information,please visit the company's website at www.arasetherapeutics.com.

About HitGen Inc.

HitGen Inc. (SSE: 688222.SH),is a drug discovery research company with headquarters in Chengdu,and subsidiaries in Cambridge,UK and Houston,USA. HitGen has established leading technology platforms to enable the discovery and optimization of small molecules and nucleic acid drugs. Our key technology platforms include DNA-encoded library technology (DEL),fragment-based drug discovery and structure-based drug design technologies (FBDD/SBDD),synthetic therapeutic oligonucleotide technology (STO),and targeted protein degradation technology (TPD). Through our diverse and flexible business models,we have built up collaboration partnership with several hundred biopharmaceutical research organizations worldwide. HitGen has multiple programmes from early discovery to clinical trial stage.

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

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