Biogen and C4 Therapeutics Enter into Strategic Collaboration to Discover and Develop Potential New Treatments for Neurological Conditions
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- Published on Saturday, 05 January 2019 17:20
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- C4T’s targeted protein degradation platform provides a novel approach to neuroscience drug discovery and development, complementing Biogen’s broader research and development efforts across multiple modalities
CAMBRIDGE, MA and WATERTOWN, MA, USA I January 04, 2019 I Biogen Inc (Nasdaq: BIIB) and C4 Therapeutics (C4T) announced today that they have entered into a strategic collaboration to investigate the use of C4T’s novel protein degradation platform to discover and develop potential new treatments for neurological conditions, such as Alzheimer’s disease and Parkinson’s disease.
Under the agreement, C4T will provide expertise and research services in targeted protein degradation and Biogen will provide neuroscience expertise and drug development capabilities. Biogen and C4T will research potential targets together and Biogen will advance candidates for development and potential commercialization. Biogen will pay C4T up to a total of $415 million in upfront and potential future milestone payments plus potential future royalties. Biogen expects to record a research and development expense of $15 million to $25 million in the fourth quarter of 2018 related to this transaction.
“C4T’s platform enables the discovery of novel molecules that take advantage of endogenous protein degradation mechanisms to target disease-causing proteins,” said Michael Ehlers, M.D., Ph.D., executive vice president, research and development at Biogen. “This new collaboration with C4T complements our broader research strategy to develop potential therapies for neurological conditions across multiple modalities. We look forward to discovering new potential therapeutic options for diseases that currently have limited-to-no treatment options available.”
“We are excited to work with our Biogen colleagues to take on the challenge of researching new potential therapies for Alzheimer’s disease, Parkinson’s disease and other devastating neurological diseases,” said Andy Phillips, president and chief executive officer of C4T. “Our approach of using the cell’s innate mechanisms to eliminate specific, disease-causing proteins is a promising new way to tackle the challenges of central nervous system diseases. Together with Biogen, a global leader in neuroscience, we are eager to embark on this important effort.”
At Biogen, our mission is clear: we are pioneers in neuroscience. Biogen discovers, develops and delivers worldwide innovative therapies for people living with serious neurological and neurodegenerative diseases. One of the world’s first global biotechnology companies, Biogen was founded in 1978 by Charles Weissmann, Heinz Schaller, Kenneth Murray and Nobel Prize winners Walter Gilbert and Phillip Sharp, and today has the leading portfolio of medicines to treat multiple sclerosis, has introduced the first and only approved treatment for spinal muscular atrophy and is focused on advancing neuroscience research programs in Alzheimer’s disease and dementia, multiple sclerosis and neuroimmunology, movement disorders, neuromuscular disorders, pain, ophthalmology, neuropsychiatry and acute neurology. Biogen also manufactures and commercializes biosimilars of advanced biologics.
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About C4 Therapeutics
C4 Therapeutics (C4T) is pioneering a new class of small-molecule drugs that selectively target disease-relevant proteins for degradation using the innate machinery of the cell. This targeted protein degradation approach has the potential to treat a range of diseases and offers advantages over traditional drugs, such as potential to minimize drug resistance, de-risked starting points, high potency and specificity. To learn more about C4 Therapeutics, visit www.C4Therapeutics.com.