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The companies will work together to discover and develop new treatments for neurological conditions such as Alzheimer’s and Parkinson’s disease.
Biogen and C4 Therapeutics, a biotechnology company based in Watertown, MA, announced on Jan. 4, 2019 that they have entered into a strategic collaboration to investigate the use of C4T’s protein degradation platform to discover and develop new treatments for neurological conditions, such as Alzheimer’s and Parkinson’s disease, in a deal worth potentially $415 million.
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, MD, PhD, executive vice president, research and development at Biogen, in a company press release. “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 CEO, C4T Therapeutics, in the release. “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.”