Protein degradation pioneer C4 Therapeutics nabs $170M; Barcelona startup has €30M to go after cancer metastases
→ Protein degradation has been good to C4 Therapeutics. The Watertown, MA-based biotech just raised $170 million. That includes a $150 million B round as well as $20 million in venture debt from Perceptive. “This funding comes at a significant juncture, as our company is moving to a clinical stage,” says CEO Marc Cohen. “We plan on filing our first IND by the end of this year and expect to have four drug candidates in the clinic by the end of 2022.” The syndicate is big. The round was co-led by existing investor Cobro Ventures and new investor Perceptive Advisors. New equity investors in the round included Adage Capital Management, Axil Capital, Bain Capital Life Sciences, Commodore Capital, 3E Bioventures Capital, HBM Healthcare Investments, Lightchain Capital, Logos Capital, Mizuho Securities Principal Investment, Nextech, RA Capital Management, RTW Investments, Sphera Funds Management, Taiwania Capital Management, Yonjin Venture, and funds and accounts managed by T. Rowe Price Associates and Janus Henderson Investors. Existing investors also participated.
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