Press Release June 17, 2020

C4 Therapeutics Raises $170 Million Financing to Bring Robust Pipeline of Protein Degraders to Clinical Proof-of-Concept and to Advance Proprietary Platform

The Life Sciences team advised C4 Therapeutics, Inc. (C4T) on raising $170 million, including $150 million in Series B preferred stock financing co-led by new investor Perceptive Advisors and existing investor Cobro Ventures, and $20 million in venture debt from Perceptive Advisors.

The oversubscribed equity financing also included participation from a global syndicate of leading biotech investors consisting of Adage Capital Management, Axil Capital, Bain Capital Life Sciences, Commodore Capital, HBM Healthcare Investments, Lightchain Capital, Logos Capital, Mizuho Securities Principal Investment, Nextech, RA Capital Management, RTW Investments, Sphera Funds Management, Taiwania Capital Management, Yonjin Venture, 3E Bioventures Capital, and funds and accounts advised by Janus Henderson Investors and others.

Headquartered in Watertown, Massachusetts, C4T is a biotechnology company that will soon be in clinical stage, focused on developing a new class of targeted transformative protein degradation therapies. C4T seeks to transform the treatment of cancer, neurobiological, and other diseases with therapies that eliminate disease-causing proteins, including those known to develop resistance to inhibitors or previously undruggable. 

The Goodwin team was led by Larry Wittenberg and included Shoaib Ghias, Rob Intile, Jr., Tracey Parker, Mark Smith, Timothy Kim, Jacob Osborn, Justin Pierce, Paul Jin, Sarah Bock, Timothy Holahan, Sophie Duffy, Ian Longacre, Eugene Shin, James Matarese, Yvonne Chan, and Edwin O’Connor, with invaluable assistance from Andrew Litman and Nikolaus Hessberger. 

For more details, read the press release and articles in Xconomy and Reuters.