C4 Therapeutics, Inc. Wells Fargo 21st Annual Healthcare Conference

Thanks for having us. Great.

Sure, happy to do that. Actually, I will have Kendra do that.

Happy to. We are- That is delegation.

Yes. Practicing delegation. I have done it a lot, and I feel like give somebody else a turn.

We are a targeted protein degrader company, and we have a portfolio of degraders that we're looking to bring to patients with unmet needs. I'll start with our lead program, which is cemsidomide. This is a cereblon modulating degrader of IKZF1/3. These are transcription factors that are critical in the treatment of multiple myeloma. We are advancing that program across multiple lines of treatment in the myeloma setting, both in the later line setting as well as the earlier line. That includes a phase II study, which is the MOMENTUM study I'm sure we'll talk about. That's enrolling now, as well as a phase I-B dose escalation or dose exploration study, cemsidomide in combination with elranatamab, which I'm sure we'll also get into that. Beyond the clinical portfolio, we also have an internal discovery portfolio that's focused on inflammation, neuroinflammation, neurodegenerative diseases.

We also have active discovery collaborations with Roche and Merck KGaA. One of those is focused on DACs, which I'm sure we'll talk about. We're progressing things across research and clinical development.

Sure. The last 12 months have actually been quite exciting for myeloma patients in general and the field. Actually, the data and regulatory events that have happened over the last 12 months have really, I think, at a high level served to validate our approach. It's really emboldened us that we think we're headed in the right direction. I think there's really three things to think about there, right? The first is our data. We updated our data at EHA this year, and I think our data continues to support our perspective that we think we have a best-in-class asset in this space. The data didn't really change much from our initial presentation at IMS last year.

But we did see some deepening responses over time, and the profile continues to look like it really has the best of both worlds, really robust efficacy at multiple doses, as well as an excellent tolerability profile, which really positions it as a backbone therapy in myeloma, like the class has been, and we believe it will continue to be. In addition, there has been some positive clinical developments around the space, notably from the Bristol Myers Squibb CELMoD portfolio, that we think validates both the need and the efficacy for next-gen degraders of IKZF1, as well as, importantly, the recent approval of iberdomide with MRD negativity. That is really important, not just for cemsidomide, but also for the field, because as we are seeing newer and more effective therapies, patients are living longer. They are living longer progression-free.

That makes development harder because you have to do longer studies if you want a time to event endpoint. So having a really robust surrogate endpoint like MRD negativity that FDA has accepted based on the 2024 ODAC that really provides a surrogate for PFS benefit is really critical to enable future development, and we intend to use that. Then I think the third element of data over the last 12 months has been all the data coming out around T-cell engagers. That is something that we are very bullish on. We think T-cell engagers are going to be moving into the second-line setting, and there has been a host of readouts, both pivotal studies as well as earlier from all three of the originators of those drugs that really suggest that is a space where TCEs are going to play.

And obviously, as you know our development plan, we think it is important that we think cemsidomide can really enhance the activity, both depth and durability of remission. So when you look together, we really think it has validated our approach, and emboldened us to continue development because it is really supportive of where we are headed with cemsidomide.