Merck (NYSE: MRK), a Germany-headquartered science and technology company, has entered into a partnership with C4 Therapeutics (NASDAQ: CCCC), a U.S.-based protein degradation, to discover two targeted protein degraders aimed at oncogenic proteins of interest. Merck will be responsible for funding the research expenses of the programs and has agreed to provide C4 with an upfront payment of USD 16 million, with the potential for up to USD 740 million in milestone payments and sales royalties. Furthermore, Merck will assume the clinical development and commercialization of any successful drug candidates that emerge from the collaboration.- Flcube.com
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