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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