C4 Therapeutics licenses CFT8919 to Betta Pharma for Greater China; receives $35M upfront/equity

C4 Therapeutics, Inc.

$10M upfront cash + $25M equity investment from Betta affiliate at $4.49/share (10.2% ownership).
Up to $357M in development/commercial milestones plus low-to-mid double-digit royalties on Greater China sales.
C4T retains rights outside Greater China; eligible for low single-digit royalties on ex-China sales.
CFT8919 is an oral BiDAC degrader targeting EGFR L858R NSCLC; IND submission to FDA expected H1 2023.
Betta responsible for development/manufacturing/commercialization in licensed territories; C4T retains rest of world.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

C4 Therapeutics, Inc. entered into License Agreement with Betta Pharmaceuticals Co., Ltd. valued at upfront cash payment of $10.0 million and up to $357.0 million in aggregate milestone payments (effective 2023-05-29).

Action: entry
Agreement: collaboration
Counterparty: Betta Pharmaceuticals Co., Ltd.
Value: upfront cash payment of $10.0 million and up to $357.0 million in aggregate milestone payments
Effective: 2023-05-29

Exact text from the filing

On May 29, 2023 , C4 Therapeutics, Inc. (“ C4T ”) entered into a License and Collaboration Agreement (“ License Agreement ”) with Betta Pharmaceuticals Co., Ltd. (“ Betta Pharma ”) to collaborate on the development and commercialization of CFT8919

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

C4 Therapeutics, Inc. entered into Stock Purchase Agreement with Betta Pharmaceuticals Co., Ltd. and Betta Investment (Hong Kong) Limited valued at aggregate purchase price of approximately $25.0 million (effective 2023-05-29).

Action: entry
Agreement: equity purchase
Counterparty: Betta Pharmaceuticals Co., Ltd. and Betta Investment (Hong Kong) Limited
Value: aggregate purchase price of approximately $25.0 million
Effective: 2023-05-29

Exact text from the filing

On May 29, 2023 and in connection with the execution of the License Agreement, C4T, Betta Pharma, and Betta Investment (Hong Kong) Limited (“ Betta Investment ”), an affiliate of Betta Pharma, entered into a Stock Purchase Agreement (the “ Stock Purchase Agreement ” and together with the License Agreement, the “ Betta Agreements ”), pursuant to which Betta Investment agreed to purchase 5,567,928 shares of C4T common stock (the “ Shares ”) for an aggregate purchase price of approximately $25.0 million

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623 material agreements filed in the last 30 days. Browse all material agreements →

C4 Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-020025

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