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Biogen, C4 Therapeutics collaborating on therapies for neurological conditions

Biogen Inc. entered a collaboration agreement with C4 Therapeutics Inc. to discover and develop new treatments for neurological conditions, such as Alzheimer's disease and Parkinson's disease, using C4's protein degradation platform.

Watertown, Mass.-based C4 is working on a new class of drugs that selectively target disease-relevant proteins for degradation using the natural mechanisms of cells.

Under the agreement, Biogen will pay up to a total of $415 million, which includes up front and potential future milestone payments plus potential future royalties, to C4 for providing expertise and research services in targeted protein degradation.

Biogen will provide neuroscience expertise and drug development capabilities, while the companies will research potential targets together and Biogen will advance candidates for development and potential commercialization, according to a Jan. 4 news release.

Cambridge, Mass.-based Biogen expects to record a research and development expense of $15 million to $25 million for this transaction in the fourth quarter of 2018.