Roche announced on Apr. 9 a new agreement with C4 Therapeutics that could be worth more than $1 billion, continuing their collaboration to develop targeted protein degradation therapies.
The partnership aims to advance a novel approach in cancer treatment using degrader-antibody conjugates (DACs). This type of therapy combines the specificity of antibodies with the catalytic efficiency of degraders, potentially offering a new way to treat cancer by destroying disease-causing proteins.
Under the terms of the deal, Roche will provide an upfront payment of $20 million for access to two DAC programs and has an option for a third target. If Roche exercises this option, C4 Therapeutics will receive an additional payment. The companies did not disclose which specific cancers they plan to target but stated that the focus will be on undisclosed oncology targets.
C4 Therapeutics is responsible for designing the degrader payloads while Roche will create the antibody component and lead preclinical and clinical development, regulatory activities, and commercialization efforts. In addition to milestone payments exceeding $1 billion tied to discovery, regulatory approval, and commercial success, C4T is eligible for tiered royalties if any products reach market.
The collaboration builds on an earlier partnership established in January 2016 when Roche supported C4T's launch with series A funding and signed a contract valued at over $750 million. DACs are structurally similar to antibody-drug conjugates (ADCs) but use molecular glue degraders instead of traditional cytotoxic drugs.
Other pharmaceutical companies have also shown interest in DAC technology through partnerships with C4T or acquisitions involving similar platforms. Merck previously entered into agreements with C4T before discontinuing them last year. Merck KGaA initiated its own collaboration in March 2024 with upfront payments and potential milestones totaling up to $740 million. Bristol Myers Squibb acquired Orum Therapeutics’ ORM-6151 in November 2025 for acute myeloid leukemia or high-risk myelodysplastic syndromes.
