Deals this week: HitGen and Sanghvi Technologies Private

HitGen has announced the signing of an agreement with Merck & Co to discover novel chemical leads for developing new medicines that address unmet medical needs.

Under the terms of the agreement, HitGen will use its core technology platform to discover multiple therapeutic targets, which will be licensed exclusively to Merck.

HitGen is a life sciences company based in China, while Merck is a healthcare company based in the US.

Sanghvi Technologies Private has announced the raising of Rs350m ($5.35m) in bridge funds through a funding round led by L’Occitane.

Based in India, Sanghvi Technologies is the operator and owner of an online market place called MyGlamm. The company plans to use proceeds towards the expansion of its MyGlamm offerings.