C4 Therapeutics, Merck Join To Develop Degrader-Antibody Conjugates

(RTTNews) - C4 Therapeutics, Inc. (CCCC) has entered into an exclusive license and collaboration agreement with Merck to develop degrader-antibody conjugates, an emerging modality designed to selectively target and neutralize disease-causing proteins in cancer cells. C4T will be responsible for using its 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.

C4T will receive a $10 million upfront payment. C4T and Merck will collaborate to develop Degrader-Antibody Conjugates directed to an initial undisclosed oncology target. For Degrader-Antibody Conjugates 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.

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