C4 Therapeutics and Betta Pharmaceuticals Ink $392M Licensing Agreement for the Development and Commercialization in Greater China of CFT8919, an Orally Bioavailable BiDAC Degrader of EGFR L858R for NSCLC
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C4 Therapeutics (CCCC) and Betta Pharmaceuticals have signed a $392M licensing agreement for the development and commercialization of CFT8919, a BiDAC degrader for non-small cell lung cancer, in Greater China. C4T will receive $35M, including $10M upfront cash and a $25M equity investment, and is eligible for up to $357M in milestones and royalties.
May 30, 2023 | 11:05 am
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C4 Therapeutics (CCCC) enters a $392M licensing agreement with Betta Pharmaceuticals for CFT8919 development in Greater China, receiving $35M upfront and being eligible for up to $357M in milestones and royalties.
The licensing agreement with Betta Pharmaceuticals will provide C4 Therapeutics with an upfront cash payment and a one-time equity investment, totaling $35M. Additionally, C4T is eligible for up to $357M in potential milestones and royalties, which could significantly boost its revenues. This deal is expected to have a positive short-term impact on CCCC's stock price.
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