Roche struck a new collaboration with C4 Therapeutics focused on degrader-antibody conjugates (DACs), pairing C4’s targeted protein degradation platform with Roche’s antibody and ADC delivery expertise. The agreement includes $20 million upfront and potentially more than $1 billion in milestone payments, reflecting Big Pharma’s renewed interest in hybrid modalities. The partnership targets two undisclosed oncology proteins and aims to engineer antibody-guided degraders that exploit the specificity of antibodies while using catalytic degradation payloads. Roche and C4 said they will develop DAC candidates through preclinical studies and beyond, with an option to expand to a third target. The deal is notable because DACs sit at the intersection of ADCs and targeted protein degraders, targeting a persistent industry problem: therapeutic windows and resistance patterns seen with conventional cytotoxic payloads. By shifting from killing via payload exposure to degrading specific proteins inside cells, DACs aim to alter both efficacy drivers and toxicity profiles. For C4, the agreement builds on earlier Roche relationship dynamics and adds capital alongside execution momentum for a modality that remains early but increasingly funded by major developers.