Gilead 'Tangoes' into nearly $2 billion I-O cancer deal

31 October 2018
2019_biotech_test_vial_discovery_big

USA-based cancer therapy discoverer Tango Therapeutics has entered into a global strategic collaboration to discover, develop and commercialize a pipeline of innovative targeted immuno-oncology treatments for patients with cancer which could earn the venture capital-backed firm $1.75 billion.

Under the multi-year collaboration, Tango will perform target discovery and validation and Gilead Sciences (Nasdaq: GILD) will have options to worldwide rights on up to five targets emerging from Tango's proprietary functional genomics-based discovery platform. For two programs directed to these targets, Tango will retain the option to co-develop and co-detail in the USA. The collaboration does not include Tango's lead programs, for which Tango will retain all rights.

Gilead’s shares were down 5.21% at $68.29 as mid-day approached in New York, indicating that investors were not overwhelmed by the news.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK

Companies featured in this story

More ones to watch >


Today's issue

Company Spotlight





More Features in Biotechnology