(RTTNews) - C4 Therapeutics (CCCC) has entered into a new collaboration agreement with Roche (RHHBY, RO.SW, ROG.SW) to advance research in the degrader-antibody conjugate or DAC, modality. C4 Therapeutics and Roche will collaborate on two programs to develop DACs against undisclosed oncology targets exclusive to the collaboration. C4 Therapeutics will use its TORPEDOplatform to design degrader payload candidates. Roche will select and design the antibody as well as conjugate the antibody to the degrader payload. Roche will be responsible for advancing DAC candidates through preclinical and clinical development as well as commercialization.
C4 Therapeutics will receive a $20 million upfront payment for the two programs. It will receive near-term discovery milestone payments. C4 Therapeutics is eligible to receive over $1 billion in discovery, regulatory and commercial milestone payments. Also, the company is entitled to tiered royalties on future sales.
In pre-market trading on NasdaqGS, C4 shares are up 2.44 percent to $2.97.
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