– Investigational New Drug (IND) Application for Lead Prospect CFT7455, a MonoDAC™ focusing on IKZF1/3 for the Remedy of Hematologic Malignancies, Less than Food and drug administration Review Initiation of Stage 1/2 Trial Envisioned in 1H 2021 –
– IND Software Submission for CFT8634, a BiDAC™ concentrating on BRD9 for Synovial Sarcoma and SMARCB1-deleted Tumors, Prepared for 2H 2021 –
– BRAF and RET Plans Envisioned to Progress to IND-enabling Research All through 2021 –
– Year-End Funds, Dollars Equivalents and Marketable Securities Anticipated to Give Runway to Close of 2023 –
WATERTOWN, Mass., Jan. 06, 2021 (Globe NEWSWIRE) — C4 Therapeutics, Inc. (C4T) (Nasdaq: CCCC), a biopharmaceutical enterprise pioneering a new course of compact-molecule medicines that selectively demolish sickness-resulting in proteins as a result of degradation, announces essential milestones for 2021, together with C4T’s transition into a scientific-stage company and advancement of the Company’s revolutionary specific protein degrader portfolio.
“C4T’s achievements in 2020, like the the latest IND submission for our direct prospect, place us for considerable development in 2021,” stated Andrew Hirsch, president and main government officer of C4 Therapeutics. “Pending Food and drug administration clearance, we appear ahead to initiating our very first medical trial, analyzing CFT7455 for the procedure of hematologic malignancies. In addition, leveraging the capabilities of our TORPEDO™ system, we are advancing a wide portfolio of differentiated focused protein degraders, which we believe have distinct gains about conventional modest molecule ways. This contains plans to submit an IND for CFT8634 and progress two further BiDAC courses into IND-enabling reports, along with ongoing investment decision in our discovery initiatives. These strategic targets keep us on observe to produce 4 packages into the clinic by the conclude of 2022.”
“This is an remarkable time for C4T as we embark on our very first clinical research, advancing our mission to change affected individual procedure as a result of qualified protein degradation,” reported Marc Cohen, government chairman and co-founder of C4 Therapeutics. “I would like to admit the great get the job done of the full C4T crew in excess of the previous five years to get us to this inflection place.”
2021 Expected Key MILESTONES
- Initiate a Stage 1/2 clinical demo for CFT7455 in relapsed or refractory non-Hodgkin lymphomas and several myeloma in 1H 2021. CFT7455 is an orally bioavailable MonoDAC (Monofunctional Degradation Activating Compound) concentrating on IKZF1/3 for the treatment of hematologic malignancies these kinds of as many myeloma and non-Hodgkin lymphomas, together with peripheral T mobile lymphoma and mantle cell lymphoma.
- Submit an IND application for CFT8634 in 2H 2021. CFT8634 is an orally bioavailable BiDAC (Bifunctional Degradation Activating Compound) targeting BRD9 for the therapy of synovial sarcoma and SMARCB1-deleted solid tumors.
- Progress our BRAF system into IND-enabling reports in 2021. The target of our BRAF method is to create an orally bioavailable BiDAC targeting BRAF V600E for the therapy of genetically defined, strong tumors including domestically state-of-the-art or metastatic melanoma and non-modest cell lung most cancers (NSCLC). Our BRAF software is partnered with Roche.
- Advance our RET system into IND-enabling scientific tests in 2021. The purpose of our RET method is to create an orally bioavailable BiDAC targeting genetically altered RET for the cure of good tumors, such as relapsed or refractory NSCLC and sporadic medullary thyroid cancers that are resistant to RET inhibitors.
In addition, the Business also presented an update on recent progress:
- IND Submitted for CFT7455: In December 2020, C4T submitted an IND application for its guide applicant, CFT7455, focusing on IKZF1/3 for the therapy of relapsed or refractory non-Hodgkin lymphomas and various myeloma.
- Ongoing to Reinforce Management Workforce: Kelly Schick has been appointed chief persons officer. Ms. Schick will be signing up for C4T in January 2021 from AMAG Prescribed drugs, in which she served as senior vice president, chief human methods officer and head of corporate engagement. In addition, Kendra Adams was appointed senior vice president, communications and trader relations. Ms. Adams joined C4T in November 2020 from Agios Prescribed drugs the place she served as vice president, external communications and investor relations.
- Completed Upsized Original Public Giving: In October 2020, C4T done an upsized original community offering of 11. million shares of prevalent inventory, including the full workout of the underwriters’ over-allotment solution, at a price tag of $19.00 for every share. Web proceeds from the giving ended up $191.1 million.
Unaudited cash, money equivalents and small-phrase investments as of December 31, 2020, were roughly $370 million. C4T expects its money, cash equivalents and limited-expression investments, such as payments expected to be received under current collaboration agreements, will be enough to fund its operating program to the close of 2023.
Future Investor Occasions
- January 14, 2021 – C4T will current at the 39th Once-a-year J.P. Morgan Health care Conference
- March 16, 2021 – C4T will participate in the Guggenheim Specific Protein Degradation Day
About C4 Therapeutics
C4 Therapeutics (C4T) is a biopharmaceutical company centered on harnessing the body’s purely natural regulation of protein levels to build novel therapeutic candidates to goal and destroy sickness-triggering proteins for the treatment of cancer, neurodegenerative ailments and other ailments. This targeted protein degradation method gives strengths over conventional therapies, which includes the possible to handle a wider range of disorders, lessen drug resistance, obtain bigger potency, and lessen side effects by way of larger selectivity. To understand more about C4 Therapeutics, check out www.C4Therapeutics.com.
This press release incorporates “forward-hunting statements” of C4 Therapeutics, Inc. in the this means of the Private Securities Litigation Reform Act of 1995. These forward-looking statements could involve, but may well not be restricted to, express or implied statements concerning our capacity to establish opportunity therapies for patients the design and probable efficacy of our therapeutic approaches the predictive functionality of our TORPEDO™ system in the advancement of novel, selective, orally bioavailable degraders the potential timing and progression of our preclinical experiments and clinical trials, which include the prospective timing for regulatory authorization similar to medical trials our means and the potential to correctly manufacture and supply our products candidates for medical trials our capability to replicate final results obtained in our preclinical scientific tests or clinical trials in any long run reports or trials our recent means and cash runway and regulatory developments in the United States and foreign nations. Any ahead-looking statements in this push release are based mostly on management’s latest anticipations and beliefs of future activities, and are subject matter to a number of hazards and uncertainties that could induce actual outcomes to differ materially and adversely from individuals established forth in or implied by such forward-searching statements. These risks and uncertainties include things like, but are not confined to: uncertainties connected to the initiation, timing and perform of preclinical and medical studies and other progress needs for our item candidates the risk that any a single or extra of our merchandise candidates will price tag more to develop or may well not be properly made and commercialized and the hazard that the benefits of preclinical studies and medical trials will be predictive of long run results in connection with upcoming reports or trials. For a discussion of these and other pitfalls and uncertainties, and other vital factors, any of which could cause our precise success to vary from people contained in the ahead-looking statements, see the segment entitled “Risk Factors” in C4 Therapeutics’ most recent Quarterly Report on Kind 10-Q, as submitted with the Securities and Exchange Commission. All details in this press release is as of the day of the release, and C4T undertakes no duty to update this details unless of course expected by law.