Goodwin’s Life Sciences team advised C4 Therapeutics, Inc. (C4T) on its exclusive licensing agreement with Betta Pharmaceuticals Co. Ltd (Betta) for the development and commercialization of CFT8919 in Greater China (including Hong Kong SAR, Macau SAR and Taiwan). CFT8919 is an orally bioavailable BiDAC™ degrader designed to be potent and selective against EGFR L858R for non-small cell lung cancer (NSCLC) patients.
Under the terms of the agreement, C4T expects to receive $35 million, which includes $10 million in upfront cash as well as a $25 million equity investment to be completed following the receipt of required regulatory approvals and other customary closing conditions. Additionally, C4T is eligible for up to $357 million in potential milestones and potential royalties on net sales in the licensed territories. Betta will be responsible for the development, manufacturing and commercialization of CFT8919 in the licensed territories and is eligible to receive potential royalties on net sales outside of Greater China. C4T retains the right to develop and commercialize CFT8919 in all territories outside of Greater China.
C4T is a clinical-stage biopharmaceutical company dedicated to delivering on the promise of targeted protein degradation science to create a new generation of medicines that transforms patients’ lives.
Betta is a commercial-stage pharmaceutical company dedicated to the development of innovative oncology products to meet high unmet medical needs.
The deal team consisted of Wenseng “Wendy” Pan, Christopher Zhong, Kevin Guan and Longfei Fang (IPTS); Edwin O’Connor, Shoaib Ghias, and Ana Carolina Gentil Zattar (Corporate); and Amy Josselyn, Richard L. Matheny III and Gozde Guckaya (Global Trade). Goodwin’s Life Sciences team led by Larry Wittenberg has represented C4T since its formation in 2015.