Press Release January 07, 2016

C4 Therapeutics Launches with $73 Million Series A Financing and Enters Strategic Drug Discovery Collaboration with Roche Valued Over $750 Million

Goodwin Procter’s Life Sciences team advised C4 Therapeutics (C4) in its launch from Dana-Farber Cancer Institute with the closing of a $73 million Series A round of financing as well as an announced strategic collaboration with Roche to develop novel treatments in the field of targeted protein degradation (TPD) using C4’s groundbreaking Degronimid™ technology.

Under the terms of the agreement, C4 will initially develop TPD therapeutics that utilize Degronimid technology for a specific set of target proteins. After successful completion of a defined preclinical development phase, Roche has the option to pursue further preclinical development and commercialization. The potential value of the deal over time is greater than $750 million. For additional details on both transactions, please view the press releases.

C4 Therapeutics is developing a new class of targeted protein degradation therapeutics for the treatment of a broad range of diseases. The company’s Degronimid platform technology was pioneered since 2010 by researchers in the Bradner Lab at Dana-Farber Cancer Institute, and is exclusively licensed to C4 Therapeutics from Dana-Farber. Degronimids are novel chemical adapters that are conjugated with selective small molecules designed to recruit the cell’s ubiquitin/proteasome system in order to “naturally” degrade targeted proteins. Degronimids offer a promising solution for the removal of previously undruggable proteins, including those that are known to develop resistance to inhibitors. C4 will be located at Mass Innovation Labs in Kendall Square, Cambridge, Massachusetts.

The Goodwin deal team was led by partner Lawrence Wittenberg and included associates Caitlin Murray, Shoaib Ghias and Daniel Koh.