C4 Therapeutics Announces License and Research Collaboration with Merck to Discover and Develop Degrader-Antibody Conjugates (DACs)
12 Diciembre 2023 - 6:00AM
C4 Therapeutics, Inc. (C4T) (Nasdaq: CCCC), a clinical-stage
biopharmaceutical company dedicated to advancing targeted protein
degradation science to develop a new generation of small-molecule
medicines and transform how disease is treated, today announced
that it has entered into an exclusive license and collaboration
agreement with Merck (known as MSD outside of the U.S. and Canada)
to develop degrader-antibody conjugates (DACs), an emerging
modality designed to selectively target and neutralize
disease-causing proteins in cancer cells.
“We are thrilled to collaborate with Merck to innovate within
the growing field of antibody-drug conjugates and evaluate the
potential for combining the catalytic efficiency, potency, target
specificity, and durability of degraders with the specific binding
and delivery capabilities of antibodies,” said Andrew Hirsch,
president and chief executive officer of C4 Therapeutics. “We look
forward to leveraging our powerful TORPEDO® platform in
collaboration with Merck’s antibody-drug conjugation expertise to
engineer novel medicines with the potential to transform patients’
lives.”
Under the terms of the agreement, C4T will receive a $10 million
upfront payment. C4T and Merck will collaborate to develop DACs
directed to an initial undisclosed oncology target that is
exclusive to the collaboration. For DACs directed to this initial
target, C4T is eligible to receive milestone payments totaling
approximately $600 million, as well as tiered royalties on future
sales. The agreement also provides Merck with the option to extend
the collaboration to include three additional targets that would be
exclusive to the collaboration, which could yield option exercise
payments as well as potential milestones and royalties. If Merck
exercises all of its options to extend the collaboration, C4T would
be eligible to receive up to approximately $2.5 billion in
potential payments across the entire collaboration.
“This collaboration combines Merck’s significant biological
chemistry expertise with C4T’s leading protein degradation
technology,” said George Addona, senior vice president, discovery,
preclinical development and translational medicine, Merck Research
Laboratories. “At Merck, we continue to evaluate new ways to
advance the science of targeted medicine.”
As part of the collaboration, C4T will be responsible for using
its proprietary TORPEDO® platform to develop degrader payloads in
the discovery phase. Merck will be responsible for antibody
conjugation to create DACs in the discovery phase and for advancing
these DAC candidates through preclinical and clinical development
as well as commercialization.
About C4 TherapeuticsC4 Therapeutics (C4T)
(Nasdaq: CCCC) is a clinical-stage biopharmaceutical company
dedicated to delivering on the promise of targeted protein
degradation science to create a new generation of medicines that
transforms patients’ lives. C4T is leveraging its TORPEDO® platform
to efficiently design and optimize small-molecule medicines that
harness the body’s natural protein recycling system to rapidly
degrade disease-causing proteins, offering the potential to
overcome drug resistance, drug undruggable targets and improve
patient outcomes. C4T is advancing multiple targeted oncology
programs to the clinic and expanding its research platform to
deliver the next wave of medicines for difficult-to-treat diseases.
For more information, please visit www.c4therapeutics.com.
Forward-Looking StatementsThis press release
contains “forward-looking statements” of C4 Therapeutics, Inc.
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements may include, but may not
be limited to, express or implied statements regarding our ability
to develop potential therapies for patients; the design and
potential efficacy of our therapeutic approaches; the predictive
capability of our TORPEDO® platform in the development of novel,
selective, orally bioavailable BiDAC™ and MonoDAC™ degraders; our
ability to achieve potential future milestone or royalty payments;
and our ability to fund our future operations. Any forward-looking
statements in this press release are based on management’s current
expectations and beliefs of future events and are subject to a
number of risks and uncertainties that could cause actual results
to differ materially and adversely from those set forth in or
implied by such forward-looking statements. For a discussion of
these and other risks and uncertainties, and other important
factors, any of which could cause our actual results to differ from
those contained in the forward-looking statements, see the section
entitled “Risk Factors” in C4 Therapeutics’ most recent Annual
Report on Form 10-K and/or Quarterly Report on Form 10-Q, as filed
with the Securities and Exchange Commission. All information in
this press release is as of the date of the release, and C4
Therapeutics undertakes no duty to update this information unless
required by law.
Contacts:
Investors: Courtney SolbergSenior Manager, Investor
RelationsCSolberg@c4therapeutics.com
Media: Loraine Spreen Senior Director, Corporate
Communications & Patient
Advocacy LSpreen@c4therapeutics.com
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