BioCentury
ARTICLE | Financial News

C4 debuts with $73M, Roche deal

January 8, 2016 2:21 AM UTC

C4 Therapeutics Inc. (Cambridge, Mass.) debuted with a $73 million series A round, a discovery deal with Roche (SIX:ROG; OTCQX:RHHBY) and an exclusive, worldwide license from the Dana-Farber Cancer Institute (Boston, Mass.) to the Degronimid protein degradation platform, with which C4 plans to develop therapeutics that eliminate targeted proteins by tagging them with ubiquitin.

Cobro Ventures, the fund of C4 co-founder Marc Cohen, led the round. Cohen was a philanthropic contributor to the Degronimid platform while Dana-Farber was developing it. Other investors included Cormorant Asset Management, The Kraft Group, EG Capital Group, and angel investors, along with Roche and Novartis AG (NYSE:NVS; SIX:NOVN). ...