Cocrystal Pharma Extends Drug Discovery Collaboration with HitGen and InterX

BOTHELL, Wash, March 10, 2021 (GLOBE NEWSWIRE) -- Cocrystal Pharma, Inc. (Nasdaq: COCP), (“Cocrystal” or the “Company”), a clinical-stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication machinery of influenza viruses, the SARS-CoV-2 virus, hepatitis C viruses and noroviruses, announces an extension of its drug discovery collaboration with HitGen, a biotech company with an innovative DNA Encoded Library technology, and InterX Inc., a computer software company with a biomolecular simulation for drug discovery. The collaboration was initiated in September 2017 and will now continue through August 2023.

Through this collaboration, Cocrystal, HitGen and InterX scientists are applying HitGen’s DNA-encoded library (DEL) technology platform, Cocrystal’s structure-based drug discovery platform technology, and InterX’s computational science to develop novel antiviral lead candidates. The DEL technology combines the power of molecular biology, combinatorial chemistry, high throughput sequencing and advanced informatics to identify potential drug candidates. Cocrystal applies its technology to determine the cocrystal structures of the potential drug candidates identified from the DEL library. This structural information is then combined with InterX’s advanced computer algorithms to predict inhibitor-target interactions. A Joint Steering Committee comprised of representatives from all three companies is overseeing the collaboration.

“This collaboration represents a truly innovative and important approach to drug discovery in which we combine three novel platforms to generate and select molecules that could lead to superior drugs,” said Gary Wilcox, Ph.D., Chairman and Chief Executive Officer of Cocrystal. “We view this collaboration as a long-term relationship with the potential to build Cocrystal’s platform and expand our pipeline with high-value compounds for future development.”

About Cocrystal Pharma, Inc.

Cocrystal Pharma, Inc. is a clinical-stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication process of influenza viruses, coronaviruses (including SARS-CoV-2), hepatitis C viruses and noroviruses. Cocrystal employs unique structure-based technologies and Nobel Prize-winning expertise to create first- and best-in-class antiviral drugs. For further information about Cocrystal, please visit www.cocrystalpharma.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected term and the results of Cocrystal’s collaboration with HitGen and InterX. 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. Some or all of the events anticipated by these forward-looking statements may not occur. Important factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to, HitGen’s DNA Encoded Library technology and InterX software performing as expected, potential disagreements with HitGen or InterX resulting in delays or termination of the collaboration, and the results of future preclinical and clinical studies. The economic and unknown impacts of Covid-19 could result in unanticipated material adverse effects on HitGen, InterX or Cocrystal. Further information on our risk factors is contained in our filings with the SEC, including our Prospectus Supplement dated August 26, 2020 and our Annual Report on Form 10-K for the year ended December 31, 2020, as amended and supplemented by the Quarterly Reports on Form 10-Q for the three months ended June 30, 2020 and the three months ended September 30, 2020. 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.

Investor Contact:
LHA Investor Relations
Jody Cain
310-691-7100
jcain@lhai.com

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Released March 10, 2021