Gilead Expands its Oncology Collaboration with Tango for ~$6.3B

Shots:

• Tango to receive $125M up front, $20M as equity investment, up to $410M/ program as an opt-in, extension, and milestones along with royalties on sales of the products. If Tango opts to co-develop and co-promote the product, the parties will equally split profits/losses and development costs in the US and will receive milestones and royalties on ex-US sales
• Gilead will have an option for the global rights of up to 15 programs over the next 7yrs. and will pay option extension fees for Tango to lead activities through early clinical development, to which Gilead will retain its option rights. Additionally, Tango get an option to co-develop and co-promote the lead products for up to five programs in the US
• Tango will continue to leverage its CRISPR-enabled functional genomics target discovery platform to identify novel immune evasion targets. The agreement excludes Tango’s lead programs, including one which is expected to be in IND application-enabling studies in 2021

Click here ­to­ read full press release/ article | Ref: Gilead | Image: Touch Oncology