C4 Therapeutics cuts staff, restructures to focus on lead protein degradation programs, discovery pacts

With Phase I da­ta on its top de­grad­er can­di­dates in sight, C4 Ther­a­peu­tics is let­ting go of 45 staffers — or 30% of the com­pa­ny — in a bid to cut costs, it dis­closed Tues­day.

Like most of the biotechs that have down­sized in re­cent months, C4 said it’s con­cen­trat­ing re­sources on pro­grams with the high­est po­ten­tial for val­ue cre­ation and pa­tient im­pact. That means push­ing for­ward three clin­i­cal-stage can­di­dates — two in-house and one via a part­ner­ship with Chi­na’s Bet­ta Phar­ma­ceu­ti­cals — as well as a “stream­lined” in­ter­nal re­search pro­gram and dis­cov­ery col­lab­o­ra­tions with Roche, Bio­gen and Mer­ck.

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