07:49 AM EDT, 09/10/2024 (MT Newswires) -- C4 Therapeutics ( CCCC ) said Tuesday that it has delivered a second development candidate to biotech firm Biogen (BIIB), reaching a milestone payment of $8 million.

C4 said the delivery is the last development candidate under a strategic collaboration the companies signed in 2018.

Per the terms of the deal, C4 provided expertise and research services in targeted protein degradation, while Biogen provided scientific and drug development capabilities. Biogen is also responsible for all clinical development and commercialization for development candidates.

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