Gilead throws its weight — and $50M cash — behind Tango's I/O discovery engine
Gilead is in for the long game in immuno-oncology. And that has spelled a big break for a small Third Rock startup boasting a CRISPR-powered discovery engine.
Tango Therapeutics has scored a “significant” collaboration with the big biotech that starts with $50 million upfront and dons a string of fees and milestones that could add up to $1.7 billion.
Notably, though, Tango is holding onto an option to co-develop and co-commercialize two of the five programs that could emerge from the pact. That’s in line with its vision to eventually become a fully integrated biotech — not a CRO — even though its lead programs are still in very preliminary stages of preclinical development, CEO Barbara Weber tells me.
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