Gilead Sciences, Tango Therapeutics in Immuno-Oncology Pact Worth up to $1.7 BillionBy
Gilead Sciences and Tango Therapeutics, a Cambridge, Massachusetts-based company developing cancer therapies, have partnered to discover, develop, and commercialize a pipeline of targeted immuno-oncology treatments, in a deal worth up to $1.7 billion ($50 million upfront).
Under the multi-year collaboration, Tango will perform target discovery and validation, and Gilead 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 US. The collaboration does not include Tango’s lead programs, for which Tango will retain all rights.
Under the agreement, Tango will receive an upfront payment of $50 million. Tango will also be eligible to receive approximately $1.7 billion in total additional payments across all programs in the form of preclinical fees and development, regulatory and commercial milestone payments; and up to low double-digit tiered royalties on net sales. For those programs that Tango opts in to co-develop and co-detail, the parties will split profits and losses 50/50 for the US, development costs will be shared in a manner that is commensurate with product rights, and Tango will be eligible to receive milestone payments and royalties on ex-US sales.
Source: Gilead Sciences