SOURCE: Cocrystal Pharma, Inc.

Cocrystal Pharma, Inc.

September 05, 2017 08:15 ET

Cocrystal Pharma, HitGen and InterX Enter into Drug Discovery Collaboration

ATLANTA, GA and BOTHELL, WA--(Marketwired - Sep 5, 2017) - Cocrystal Pharma, Inc. (OTCQB: COCP) today announced that it has entered into a research collaboration with HitGen, Ltd., a private biotechnology company and InterX, Inc., a private computer software company to develop small molecule drug candidates against several undisclosed targets.

Through the collaboration, Cocrystal, HitGen and InterX scientists will apply HitGen's DNA-encoded library (DEL) technology platform and research capabilities in the design, synthesis, and screening of multiple proprietary DELs. The DEL technology enables a large number of compounds to be rapidly identified for specific drug targets. Cocrystal will use its industrialized crystallization and co-crystallization technology to determine at near atomic resolution the structures of HitGen's selected library compounds that interact with drug targets. Finally, InterX will use its advanced proprietary software to design superior drugs from the information provided by Cocrystal and HitGen.

The goal of the collaboration is to produce superior drugs rapidly, without the need for extensive time-consuming and expensive chemical synthesis and testing. A Joint Steering Committee will oversee the project and manage the program. InterX software combined with the structural information from Cocrystal can predict the strength of drug-target interactions using the most advanced computer algorithms available today.

"The combination of HitGen's industry-leading DNA encoded libraries, InterX's unique and proven software and Cocrystal's successful experience in structure-based drug discovery has the potential to rapidly produce superior drug candidates at comparatively low cost," said Gary L. Wilcox, Ph.D., Interim Chief Executive Officer of the Company.

"This collaboration represents a new approach to drug discovery, with the potential to create the best molecules for all targets, including previously inaccessible ones," said Roger Kornberg (Nobel Laureate and Executive CEO of InterX).

"HitGen is enthusiastic about this opportunity for combining its proprietary DNA-encoded libraries with the proven technologies of Cocrystal and InterX. HitGen has entered into similar research collaborations with Merck and Pfizer this year using HitGen's DELs to potentially bring enormous efficiencies, optimization and time savings in drug development," said Dr. Jin Li, Chairman of the Board and Chief Executive Officer of HitGen.

About Cocrystal Pharma
Cocrystal is a pharmaceutical company seeking to discover and develop novel antiviral therapeutics as treatments for serious and/or chronic viral diseases. Cocrystal employs unique structure based technologies and Nobel Prize winning expertise to create first- and best-in-class antiviral drugs. These technologies, including our nucleoside chemistry expertise, are designed to efficiently deliver small molecule therapeutics that are safe, effective and convenient to administer. The company has identified promising, preclinical stage antiviral compounds for unmet medical needs including hepatitis, influenza and norovirus infections. Cocrystal has previously received strategic investments from Teva Pharmaceuticals, OPKO Health (NASDAQ: OPK), Brace Pharma Capital, LLC, and The Frost Group. For further information about Cocrystal, please refer to www.cocrystalpharma.com.

About HitGen Ltd
HitGen is a biotech company with headquarters and main research facilities based in Chengdu, China, and with a laboratory in Houston, Texas, USA. HitGen has established a unique platform for drug discovery research. HitGen's DNA encoded chemical libraries (DELs) contain more than 85 billion novel, diverse, drug-like compounds. These compounds are members of DELs synthesized from many hundreds of distinct chemical scaffolds, designed with tractable chemistry and proven results for finding drug leads against targets from known and novel protein classes. HitGen is working with multiple pharmaceutical, biotech companies and research institutes to discover and develop novel therapeutics of the future. For further information about HitGen, please refer to www.hitgen.com.

About InterX
InterX technology enables biochemical simulations with chemical accuracy. The goal is to have computation and experiment agreeing to within 0.5 kcal/Mol. InterX uses Nobel Prize-winning technology to derive novel rules of biochemical interactions and to apply them to real world problems in Pharma, Biochemistry and Materials Science. InterX is based in Berkeley, California. For further information about InterX, please refer to www.interxinc.com.

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements including our expectations regarding the research collaboration and the anticipated results. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events including joint research collaboration. Important factors that could cause actual results to differ from those in the forward-looking statements include the uncertain results from any new research and the ability of scientists from each party to work smoothly. Further information on our risk factors is contained in our filings with the SEC, including our Form 10-K for the year ended December 31, 2016. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

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