Andrew Hirsch, C4 Therapeutics CEO

C4 Ther­a­peu­tics gets $35M from Bet­ta Phar­ma­ceu­ti­cals to de­vel­op and mar­ket NSCLC drug in Chi­na

C4 Ther­a­peu­tics, one of the ear­ly play­ers in tar­get­ed pro­tein degra­da­tion, has linked up with Chi­na-based Bet­ta Phar­ma­ceu­ti­cals to de­vel­op C4’s non-small cell lung can­cer (NSCLC) treat­ment across the Pa­cif­ic.

On Tues­day, C4 an­nounced that it has inked an ex­clu­sive li­cens­ing agree­ment with Bet­ta to de­vel­op and com­mer­cial­ize its NSCLC treat­ment, CFT8919, in Greater Chi­na. The deal will see Bet­ta hand C4 $35 mil­lion, in­clud­ing a $10 mil­lion pay­ment up­front and a $25 mil­lion one-time eq­ui­ty pay­ment. This eq­ui­ty pay­ment will be com­plet­ed fol­low­ing the reg­u­la­to­ry ap­provals and clos­ing con­di­tions.

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