HitGen Enters into DNA-Encoded Library Based Research Service Agreement with Nested Therapeutics

CHENGDU,China,Aug. 10,2023 -- Shanghai Stock Exchange listed company HitGen Inc. ("HitGen",SSE: 688222.SH)today announced that it has entered into a research service agreement with Nested Therapeutics,Inc. ("Nested"),a biotechnology company pioneering a next-generation precision medicine platform to address hard-to-treat cancers,under which HitGen will utilize its DNA-encoded library (DEL) technology platform,centered around the design,synthesis and screening of DELs,to identify hits against targets of interest to Nested.

HitGen is a world leader in the development of DEL technology and applications to early-stage small molecule drug discovery. Its 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 look forward to working with the research teams at Nested to generate novel starting points for their research programs to help address the unmet needs ofpatients with cancer. As one of HitGen's four core technology platforms,our world-leading DEL platform is an efficient 'engine' to advance drug discovery,and has enabled hit identification and lead generation for many innovative discovery programmes by our customers and partners. We look forward to delivering useful outcome for Nested's research programmes," said Dr. Jin Li,Chairman of the Board and Chief Executive Officer of HitGen Inc.

About Nested Therapeutics

Nested Therapeutics is a biotechnology company focused on discovering and developing novel,targeted,small molecule precision medicine therapies for patients with cancer by using mutation clusters to identify druggable pockets. With a platform that utilizes insights from genomics,computational chemistry,proteomics,and AI,Nested is working to reach untapped mutations with the potential to improve outcomes for millions of patients. To learn more,visit www.nestedtx.com and follow Nested Therapeutics on Twitter (@Nestedtx) and LinkedIn.

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 world-leading DNA-encoded library technology (DEL),fragment-based drug discovery and structure-based drug design technologies (FBDD/SBDD),as well as the emerging technology platforms for 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.

For business development: bd@hitgen.com

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