May 30 Quick Takes: China deals for C4, Adcendo

A deal with Betta Pharmaceuticals Co. Ltd. (SZSE:300558) for Greater China rights to an EGFR L858R degrader will give C4 Therapeutics Inc. (NASDAQ:CCCC) $35 million, including $10 million up front plus a $25 million equity investment. Betta will receive rights in mainland China, Taiwan, Hong Kong and Macau to the molecule, CFT8919, for which C4 expects to submit an IND to FDA this half to treat a targeted population with non-small cell lung cancer. C4 is eligible for $357 million in milestones, plus royalties.

Adcendo ApS expanded its license to use the linker-payload platform of Duality Biologics Ltd. from one program to three. Adcendo initially licensed the platform, known as Duality Immune Toxin Antibody Conjugates, in January for its lead program to treat mesenchymal cancers. Under the revised agreement, the company can nominate antibody-drug conjugates (ADCs) against two additional targets and has the option to gain access to the platform. No financial terms were disclosed. The deal is one of many to be struck between a Western company and a China-based ADC developer; Shanghai-based Duality received $170 million up front in deal with BioNTech SE (NASDAQ:BNTX) announced in April. ...