08:11 AM EDT, 09/04/2025 (MT Newswires) -- C4 Therapeutics ( CCCC ) said Thursday that its partner Biogen's (BIIB) investigational new drug application for BIIB142, a degrader of IRAK4, was accepted by the US Food and Drug Administration.

Biogen plans to explore the therapeutic use of BIIB142 in patients with autoimmune diseases, the biopharmaceutical company said.

Under the terms of their 2018 partnership, C4 said it provided expertise and research services in targeted protein degradation, while Biogen provided scientific and drug development capabilities, adding that C4 is entitled to get a $2 million milestone payment upon Biogen dosing participants in the BIIB142 clinical study.

C4 Therapeutics ( CCCC ) shares were up 2.8% in recent Thursday premarket activity, while Biogen shares were edging 0.5% higher.