C4 Therapeutics Announces Strategic Collaboration with Merck on Novel Degrader-Antibody Conjugates, Shares Surge Over 300% in Two Days

On Wednesday (December 13) during U.S. stock trading, the share price of American biopharmaceutical company C4 Therapeutics surged over 120%, currently trading at $5.29 per share, the highest level since March this year. The stock had already closed up 98.31% yesterday, yet today it continues to rise without slowing down.

C4 Therapeutics (C4T) is a biopharmaceutical company dedicated to researching and advancing the science of targeted protein degradation. The company is leveraging its TORPEDO platform to efficiently design and optimize small molecule drugs, utilizing the body's natural protein recycling system to rapidly degrade disease-causing proteins, which may potentially overcome drug resistance.

C4T is advancing multiple targeted oncology programs to the clinical stage and expanding its research platform to provide more drugs for difficult-to-treat diseases, while pharmaceutical giantMSDThat is its latest project partner.

Local time on Tuesday (December 12), C4 Therapeutics announced withMSDSign an exclusive license and cooperation agreement to jointly develop Antibody-Conjugated Degraders (DACs), an emerging therapeutic modality that can selectively target and neutralize disease-causing proteins in cancer cells.

According to the terms of the agreement, C4T will receive fromMSDC4T received a $10 million upfront payment, and the two parties will collaborate to develop DACs targeting an undisclosed oncology target. In the future, C4T is eligible to receive milestone payments totaling approximately $600 million, as well as royalties on drug sales.

The agreement also allows MSD to choose to expand the collaboration to three additional exclusive targets. If MSD exercises all options to expand the collaboration, C4T could be eligible to receive up to approximately $2.5 billion in potential payments over the entire collaboration agreement.

As part of the collaboration, C4 Therapeutics is responsible for developing protein degrader payloads using its TORPEDO platform during the discovery phase; Merck & Co., Inc. is responsible for antibody conjugation to create DACs, as well as the preclinical, clinical development, and commercialization advancement of the drug.

Earlier in the day, C4T updated its company profile on its official website, adding the collaboration project with MSD to its 2023 business milestones. The document also revealed that C4T currently has three pipelines in clinical stages, with the rights column for "CFT8919" including a company listed on the A-share market.Beta Pharma。

Last week,Betta PharmaceuticalsPublishAnnouncementIt was announced that the company received the "Drug Clinical Trial Approval Notice" issued by the National Medical Products Administration (NMPA). The clinical trial application for CFT8919 tablets, introduced from C4 Therapeutics, has been approved for development.

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