Almirall : and HitGen will develop novel oral compounds in atopic dermatitis

Spain
March 25^th 2019

Almirall, S.A. (ALM) announced today the signature of a new research collaboration with HitGen Ltd. The company is conducting a multi-target research collaboration with DNA-Encoded library companies for targets in atopic dermatitis to develop novel oral chemical entities (NCE) for patients suffering from moderate to severe atopic dermatitis.

In this sense, Almirall has entered into a collaboration with HitGen, a privately held biotechnology company established since 2012 in Chengdu, China, to establish an advanced lead generation platform based on their DNA-Encoded libraries for this specific target. HitGen has a robust platform with an extensive library (nearly 400 billion compounds) and a strong track record of deal making, which makes it an excellent partner for Almirall.

The purpose of this strategic partnership is the identification of advanced hits, to be licensed by Almirall.

Under the terms of the agreement, Almirall will provide reagents and material to screen the targets. HitGen will prosecute screening, hit ID, confirmation and early testing against the selected targets leveraging its proprietary unique DEL Screening platform.

Bhushan Hardas, M.D., MBA, Chief Scientific Officer of Almirall, commented that 'this agreement keeps us on the track to achieve our goal of becoming a leading medical dermatology company. We look forward to collaborate with HitGen in identifying new molecules with the potential of becoming new treatment options for patients with atopic dermatitis'.

Dr. Jin Li, Chairman of the Board and Chief Executive Officer of HitGen, stated 'we are delighted to enter this collaboration with Almirall, a leader in medical dermatology. This collaboration further emphasizes the role of HitGen in the rapidly developing field of DNA-encoded chemistry. We will work closely with Almirall's scientists to develop novel oral chemical entities to address unmet medical needs in atopic dermatitis'.

About Almirall

Almirall is a leading skin-health focused global pharmaceutical company that partners with healthcare professionals, applying Science to provide medical solutions to patients and future generations. Our efforts are focused on fighting against skin health diseases and helping people feel and look their best. We support healthcare professionals by continuous improvement, bringing our innovative solutions where they are needed.

The company, founded almost 75 years ago with headquarters in Barcelona, is listed on the Spanish Stock Exchange (ticker: ALM). Almirall has been key in value creation to society according to its commitment with to major shareholders and through its decision to help others, to understand their challenges and to use Science to provide solutions for real life. Total revenues in 2018 were 811 million euros. More than 1,800 employees are devoted to Science.

For more information, please visit almirall.com

About HitGen

HitGen is a rapidly growing biotech company with headquarters and main research facilities based in Chengdu, China and with a subsidiary in the USA. HitGen has established a platform for small molecule drug centred around the design, assembly and interrogation of DNA encoded chemical libraries (DELs). HitGen's DELs contain nearly 400 billion novel, diverse, drug-like small molecule and macrocyclic compounds. These compounds are members of DELs synthe-sised from many hundreds of distinct chemical scaffolds, designed with tractable chemistry, and yielding proven results for the discovery of small molecule leads against precedented and un-precedented classes of biological targets. HitGen is collaborating with pharmaceutical, biotech, and chemical companies, foundations and research institutes in North America, Europe, Asia and Africa to discover and develop approaches for novel medicines and agrochemical solutions.

For more information, please visit www.hitgen.com or contact:

Dr. Jin Li, Chairman & CEO, HitGen Ltd. Tel: [phone] (8001)