C4 Therapeutics, a Cambridge, MA-based developer of novel treatments in the field of targeted protein degradation, closed a $73m Series A round of financing.
The round was led by Cobro Ventures with participation from Cormorant Asset Management, The Kraft Group, EG Capital Group, Roche, Novartis and angel investors.
Co-founded by Ken Anderson, M.D., Kraft Family Professor of Medicine, Harvard Medical School, Director of the Jerome Lipper Multiple Myeloma Center and LeBow Institute for Myeloma Therapeutics at Dana-Farber, and a world-renowned expert in protein degradation and multiple myeloma; Nathanael Gray, Ph.D., Professor of Biological Chemistry and Molecular Pharmacology, Harvard Medical School, Principal Investigator at Dana-Farber and an expert in kinase inhibitors and drug discovery; software and biotech entrepreneur Marc Cohen; and James “Jay” E. Bradner, M.D., former Associate Professor of Medicine, Harvard Medical School and former Investigator at Dana-Farber, the company is developing a new class of targeted protein degradation (TPD) therapeutics for the treatment of a broad range of diseases. The company uses proprietary Degronimid™ technology, which utilizes an all-chemical solution for targeted and rapid protein degradation. Degronimids are novel chemical adapters that are conjugated with selective small molecules designed to recruit the cell’s ubiquitin/proteasome system (UPS) in order to naturally degrade targeted proteins.
Led by Jason Fisherman, M.D., newly named Chief Executive Officer, C4 Therapeutics has executed a license agreement with Dana-Farber that provides worldwide exclusivity for all applications of the Degronimid technology.
The company will be located at Mass Innovation Labs in Kendall Square, Cambridge.