China-based Betta Pharmaceuticals Co., Ltd (SHE: 300558) has announced an exclusive licensing agreement with US firm C4 Therapeutics Inc., (NASDAQ: CCCC) focusing on the development and commercialization of C4’s preclinical stage CFT8919 in Greater China, including Hong Kong SAR, Macau SAR, and Taiwan. CFT8919 is an orally bioavailable BiDAC degrader designed to target EGFR L858R in non-small cell lung cancer (NSCLC).
Financial Terms and Milestones of the Agreement
Under the agreement, C4 will receive USD 35 million, which includes USD 10 million in upfront cash and a USD 25 million one-time equity investment, subject to regulatory approvals and other closing conditions. C4 is also eligible for up to USD 357 million in potential milestones and low to mid-double-digit percent royalties on net sales. Betta will be responsible for the development, manufacturing, and commercialization of CFT8919 in the licensed territories and is eligible to receive low single-digit percent royalties on net sales outside of Greater China. C4 retains the right to develop and commercialize CFT8919 in all territories outside of Greater China. Betta has already completed the purchase of 5.56 million C4 shares at a price of USD 25 million.
Potential Impact of CFT8919 in NSCLC Treatment
CFT8919 is expected to show significant effectiveness against either L858R single mutation or L858R with additional EGFR mutations that confer resistance to approved EGFR inhibitors such as osimertinib or erlotinib, as demonstrated in preclinical testing. This partnership between Betta Pharmaceuticals and C4 Therapeutics aims to bring this promising therapeutic option to patients in Greater China, addressing a critical need in the treatment of non-small cell lung cancer.-Fineline Info & Tech
