2023-05-30 10:27:32 ET
- C4 Therapeutics ( NASDAQ: CCCC ) and Betta Pharmaceuticals have inked an exclusive licensing agreement for the development and commercialization of lung cancer therapy CFT8919 in Greater China, the companies announced Tuesday.
- Per the terms, C4 Therapeutics ( CCCC ) will receive $10M upfront and a $25M equity investment from Betta. The Watertown, Massachusetts-based biotech is entitled to up to $357M in development and commercial milestones plus low to mid-double-digit percent royalties on net sales for CFT8919 in licensed regions.
- Betta will be tasked with the development, manufacturing, and commercialization of CFT8919, and the Hangzhou-based firm will also receive low single-digit percent royalties on net sales outside of Greater China.
- The announcement comes as C4 Therapeutics expects to file an Investigational New Drug ( IND ) application (IND) for CFT8919 in H1 2023, targeting patients with non-small cell lung cancer (NSCLC).
For further details see:
C4 Therapeutics in pact to develop lung cancer drug in China