On March 4, C4 Therapeutics (CCCC.US) announced a licensing and cooperation agreement with Merck of Germany
The Zhitong Finance App learned that C4 Therapeutics (CCCC.US) announced that it has signed a license and cooperation agreement with Merck of Germany to cooperate in the development of targeted proteolytics targeting two key carcinogenic protein targets in C4T's internal discovery pipeline. C4T will use its proprietary TORPEDO platform to discover degradants of carcinogenic proteins, and Merck will be responsible for clinical development and commercialization of candidate drugs.
Under the terms of the agreement, C4T will receive an upfront payment of $16 million, and Merck will fund C4T's discovery research work. C4T has the potential to receive up to approximately $740 million in discovery, regulation, and commercial milestone payments across the partnership. According to information, C4 Therapeutics is a clinical-stage biomedical company founded in 2015 and listed on the US NASDAQ in 2020. It is committed to developing targeted proteolytic drugs. Currently, the company has 2 pipelines in the clinical stage.
Andrew Hirsch, President and CEO of C4T, said, “We look forward to working with Merck and leveraging our shared strengths to advance projects within C4T's internal oncology pipeline. The new partnership highlights C4T's differentiated approach to targeted protein degradation and its ability to design novel targeted proteolytic drugs.”