C4 Therapeutics and Betta Pharmaceuticals will swim together to commercialize a lung cancer med in greater China in a deal worth $10 million in upfront cash and a possible $357 million down the line.
The agreement involves CFT8919, a preclinical non-small cell lung cancer medicine that targets EGFR L858R mutations. Betta Pharmaceuticals is picking up the rights to commercialize the therapy in the greater China region, including Hong Kong SAR, Macau SAR and Taiwan.
C4 is set to receive $10 million upfront plus a $25 million one-time equity investment that will be completed once required regulatory approvals and other closing conditions have been met. The biotech could also receive as much as $357 million in milestones and royalties down the line.
Betta will conduct development, manufacturing and commercialization in the named territories and is eligible to receive royalties on net sales of CFT8919 outside of greater China. C4, meanwhile, will retain the right to develop and commercialize the oral therapy elsewhere.
C4 CEO Andrew Hirsch noted the high prevalence of patients with lung cancer who have the EGFR L858R mutation in China and said Betta is the right partner to take CFT8919 into the region. The company expects to file an investigational new drug application for human testing in the U.S. in the first half of this year.
Betta has numerous partnerships with other biopharma companies including Agenus, Merus and InventisBio. The Agenus deal involved commercialization of the PD-1 monoclonal antibody balstilimab and CTLA-4 monoclonal antibody zalifrelimab, both of which are in phase 2b development for cervical cancer.