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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