C4 therapeutics announces closing of $25 million equity investment by betta pharmaceuticals

Watertown, mass., jan. 04, 2024 (globe newswire) -- c4 therapeutics, inc. (c4t) (nasdaq: cccc), a clinical-stage biopharmaceutical company dedicated to advancing targeted protein degradation science to develop a new generation of small-molecule medicines and transform how disease is treated, today announced the closing of the previously announced $25 million stock purchase agreement with a wholly-owned subsidiary of betta pharmaceuticals co. ltd (betta) (300558.sz), a leading pharmaceutical company focusing on the development of innovative oncology therapies in china. this investment was completed at $4.49 per share. the purchase price represents a 25% premium over the 60-trading-day volume weighted average through the date that was two business days prior to the entry into the stock purchase agreement on may 29, 2023.
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