Daniel O’Day’s I/O dance continues, as Gilead and Tango expand deal up to $6B
Three years ago, Gilead CEO John Milligan signed a milestone-heavy deal with a little-known biotech that had flashy technology and flashier founders. Now, with new chief Daniel O’Day on a cancer therapy shopping spree, the two companies are upgrading that deal into a potential behemoth.
Gilead and Boston’s Tango Therapeutics agreed to an up to $6 billion deal that will cover 15 different targets that help cancer cells evade the immune system, paving the way for drugs that could be used in combination with checkpoint inhibitors for the rest of their growing immuno-oncology portfolio.
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