C4 Therapeutics inks license deal with Merck KGaA

5 March 2024

C4 Therapeutics (Nasdaq: CCCC) saw its shares closed down 2.8% at $10.68 yesterday, despite announcing a license deal with Germany’s Merck KGaA (MRK; DE).

The companies will exclusively discover two targeted protein degraders against critical oncogenic proteins that C4T has progressed within its internal discovery pipeline.

This is Merck’s fourth dip into the ever more attractive protein degraders sector, having collaborated with Amphista in a deal worth around $1 billion in 2022, and also ones with with Proxygen and Celeris.

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