Brief: C4 Therapeutics Announces License And Research Collaboration With Merck

C4 Therapeutics

12/12/2023 12:26

Dec 12 (Reuters) - C4 Therapeutics Inc  CCCC.O :
    * C4 THERAPEUTICS ANNOUNCES LICENSE AND RESEARCH
COLLABORATION
WITH MERCK TO DISCOVER AND DEVELOP DEGRADER-ANTIBODY CONJUGATES
(DACS)
    * C4 THERAPEUTICS INC - UNDER TERMS OF AGREEMENT, C4T WILL
RECEIVE
A $10 MILLION UPFRONT PAYMENT
    * C4 THERAPEUTICS INC - C4T, MERCK TO COLLABORATE TO DEVELOP
DACS
DIRECTED TO AN INITIAL UNDISCLOSED ONCOLOGY TARGET THAT IS
EXCLUSIVE TO COLLABORATION
    * C4 THERAPEUTICS INC - FOR DACS DIRECTED TO THIS INITIAL
TARGET,
C4T IS ELIGIBLE TO RECEIVE MILESTONE PAYMENTS TOTALING
APPROXIMATELY $600 MILLION
    * C4 THERAPEUTICS INC - AGREEMENT ALSO PROVIDES MERCK WITH
OPTION
TO EXTEND COLLABORATION TO INCLUDE THREE ADDITIONAL TARGETS
EXCLUSIVE TO COLLABORATION
    * C4 THERAPEUTICS INC - IF MERCK EXERCISES ALL OPTIONS TO
EXTEND
COLLABORATION, CO WOULD BE ELIGIBLE TO GET UP TO ABOUT $2.5
BILLION IN POTENTIAL PAYMENTS

Source text for Eikon:  ID:nGNX4CR5Yr 
Further company coverage:  CCCC.O 

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