Mon­ey, brains and am­bi­tion: Third Rock start­up Tan­go launch­es with $55M and a stel­lar crew of sci­en­tif­ic ad­vis­ers


Tan­go Ther­a­peu­tics meets all the cri­te­ria you’ve come to ex­pect from a Third Rock start­up.

There’s the $55 mil­lion round ad­vanced to re­cruit a team and reach tan­gi­ble de­vel­op­ment goals while look­ing to blaze a new trail in the realm of un­met med­ical needs. There are the Third Rock part­ners tak­ing in­ter­im roles to get every­thing up and run­ning. And there’s an im­pres­sive crew of sci­en­tif­ic ad­vis­ers who bring to­geth­er decades of lab work in­volv­ing the chal­lenges this com­pa­ny will face.

One of the key ad­vis­ers here is Alan Ash­worth, who is pres­i­dent of the Uni­ver­si­ty of Cal­i­for­nia San Fran­cis­co He­len Diller Fam­i­ly Com­pre­hen­sive Can­cer Cen­ter.

Ash­worth was in the group that dis­cov­ered the BR­CA2 mu­ta­tion in the mid-90s, and went on to play a lead role in the dis­cov­ery of those PARP in­hibitors we’ve been hear­ing so much about over the past few years, and months, as As­traZeneca, Tesaro and Clo­vis have led the way on a new class of can­cer ther­a­pies.

Tan­go is di­rect­ed to ex­ploit the ge­net­ic vul­ner­a­bil­i­ties can­cer has with new drugs that can tar­get very spe­cif­ic pa­tient pop­u­la­tions. In par­tic­u­lar, they’re look­ing to de­vel­op drugs that cre­ate syn­thet­ic lethal­i­ty, find­ing the weak spots where tu­mor sup­pres­sor genes are iden­ti­fied and turned against the can­cer.

To do that this team — led by Third Rock part­ner and for­mer Penn and No­var­tis sci­en­tist Bar­bara We­ber — is build­ing a plat­form tech­nol­o­gy lay­ered to study tu­mor sup­pres­sor gene func­tion, the drug tar­gets that can be used to at­tack var­i­ous can­cers and the process of im­mune eva­sion can­cer cells use to evade de­struc­tion.

We­ber ex­plains that this ap­proach has been made pos­si­ble by a new use for CRISPR in drug dis­cov­ery. We­ber brought the idea to Third Rock, which she joined in 2015. And now she’ll get a chance to make it a re­al­i­ty as in­ter­im CEO.

“It’s a tool that is in­cred­i­bly ver­sa­tile and pow­er­ful,” says We­ber about CRISPR. “It can be used to in­ter­ro­gate tens of thou­sands of genes at a time and get a very spe­cif­ic an­swer with a high lev­el of ac­cu­ra­cy.”

“By virtue of the way we’re screen­ing for these tar­gets,” says Third Rock’s Cary Pf­ef­fer, in­ter­im busi­ness chief, re­searchers are si­mul­ta­ne­ous­ly iden­ti­fy­ing tar­gets and ge­net­i­cal­ly val­i­dat­ing them. And by iden­ti­fy­ing the ge­net­ics they can, like the BR­CA-tar­get­ed PARPs, se­lect the pa­tients most like­ly to re­spond.

That’s about all we know about Tan­go at this point. The com­pa­ny may sound like it’s struc­tured more like an aca­d­e­m­ic lab than a com­mer­cial biotech com­pa­ny, but it’s not, of course. Third Rock likes to seed these ear­ly ef­forts to see if it is worth a big Se­ries A launch, point­ed to spe­cif­ic tar­gets and drugs that can be brought in­to the clin­ic. But it’s not ready yet to talk spe­cif­ic pro­grams.

Right now, We­ber tells me, the biotech has about a dozen staffers. That will dou­ble by the mid­dle of the year as the biotech ex­pands in Cam­bridge. In ad­di­tion to Ash­worth, here’s the dream team of sci­en­tif­ic ad­vis­ers that Third Rock has gath­ered to help guide the ef­fort:

• José Basel­ga, Physi­cian-in-Chief at Memo­r­i­al Sloan Ket­ter­ing Can­cer Cen­ter

• Levi Gar­raway, SVP of Glob­al On­col­o­gy at Eli Lil­ly

• William Kaelin, Pro­fes­sor in the De­part­ment of Med­i­cine at the Dana-Far­ber Can­cer In­sti­tute, Har­vard Med­ical School and a Howard Hugh­es Med­ical In­sti­tute In­ves­ti­ga­tor

• Tim­o­thy K. Lu, As­so­ci­ate Pro­fes­sor of Bi­o­log­i­cal En­gi­neer­ing, Elec­tri­cal En­gi­neer­ing and Com­put­er Sci­ence at MIT

• An­toni Ribas, Pro­fes­sor of Med­i­cine, Surgery, and Mol­e­c­u­lar and Med­ical Phar­ma­col­o­gy at UCLA

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Every individual’s DNA is unique, and because of this, every patient responds differently to disease and treatment. It is astonishing how four tiny building blocks of our DNA – A, T, C, G – dictate our health, disease, and how we age.

The tricky thing about DNA is that it is constantly exposed to damage by sources such as ultraviolet light, certain chemicals, toxins, and even natural biochemical processes inside our cells.¹ If ignored, DNA damage will accumulate in replicating cells, giving rise to mutations that can lead to premature aging, cancer, and other diseases.

Fol­low biotechs go­ing pub­lic with the End­points News IPO Track­er

The Endpoints News team is continuing to track IPO filings for 2021, and we’ve designed a new tracker page for the effort.

Check it out here: Biopharma IPOs 2021 from Endpoints News

You’ll be able to find all the biotechs that have filed and priced so far this year, sortable by quarter and listed by newest first. As of the time of publishing on Feb. 25, there have already been 16 biotechs debuting on Nasdaq so far this year, with an additional four having filed their S-1 paperwork.

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“Over the past decades it has always been about finding a target, about reducing a disease to a single molecular target,” says Fabrice Chouraqui, the Novartis vet who was recruited to run the operation about 9 months ago. “And that approach has produced thousands of life-saving medicines. Yet, this approach has limitations. A molecular target approach is fine when you talk about a simple disease, but for very complex diseases like neurodegeneration, like metabolic disease, like cancer, you hope to really harness the complexity of human biology.

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Japan's Soft­Bank plots bil­lions in biotech in­vest­ments in move that could keep the val­u­a­tion flood ris­ing — re­port

The valuation crazy train in biotech continues to roll into the new year with more than a dozen companies taking a chance on Nasdaq and money flowing in from all sides. Now, a Japanese institutional investor is reportedly weighing an entry into the market in a big way — will it keep the bitcoin-esque flood rising?

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