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Gilead ‘pleased’ with Tango partnership, expands cancer targets in revised deal

August 17, 2020

Saying it is “very pleased” with the productivity of the collaboration thus far, Gilead Sciences (NASDAQ:GILD) has agreed to expand its 2018 oncology-focused partnership with privately held Tango Therapeutics.

Under the new multiyear agreement, Tango will leverage its proprietary CRISPR-enabled functional genomics target discovery platform to identify novel immune evasion targets, increasing the expected number to 15 from five.

GILD will have options to secure global rights to all programs directed at these targets over the next seven years. It will also have the right to pay option extension fees for Tango to lead through early-stage clinical development. Tango will have the option to co-develop and co-promote the lead products for up to five programs in the U.S.

The partnership excludes Tango’s lead programs. In addition, it has the rights to identify targets outside the immune evasion space.

Under the terms of the revised deal, GILD will pay Tango $125M upfront, invest $20M in Tango equity, have the option to in-license up to 15 programs over the next seven years for up to $410M per program and pay tiered low double-digit royalties on net sales.

Profits and losses will be equally shared on co-developed and co-promoted products in the U.S. while Tango will be eligible for milestone payments and royalties on ex-U.S. sales.

https://seekingalpha.com/news/3606452-gilead-pleased-tango-partnership-expands-cancer-targets-in-revised-deal

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