C4 Therapeutics enters license and collaboration agreement with Merck to develop degrader-antibody conjugates

C4 Therapeutics, Inc.

C4T grants Merck worldwide exclusive license for DACs directed to an initial undisclosed oncology target.
Merck pays $10 million upfront; C4T eligible for up to ~$600 million in milestones for initial target plus tiered royalties.
Merck has options for three additional targets; if all exercised, total potential payments to C4T up to ~$2.5 billion.
Collaboration leverages C4T's TORPEDO platform for degrader payloads and Merck's antibody conjugation expertise.
Merck responsible for all development, regulatory, manufacturing, and commercialization costs.

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 Merck Sharp & Dohme LLC valued at up to approximately $2.5 billion in potential payments across the entire collaboration (effective 2023-12-11).

Action: entry
Agreement: collaboration
Counterparty: Merck Sharp & Dohme LLC
Value: up to approximately $2.5 billion in potential payments across the entire collaboration
Effective: 2023-12-11

Exact text from the filing

C4 Therapeutics, Inc. (“ C4T ”) entered into a License and Collaboration Agreement (“ License Agreement ”) with Merck Sharp & Dohme LLC (“ Merck ”) to collaborate on the development and commercialization of degrader-antibody conjugates ( “ DACs ”: ), an emerging modality designed to selectively target and neutralize disease-causing proteins in cancer cells.

View on SEC.gov

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

C4 Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-041271

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.