August 20, 2020
- Gilead and Tango will expand a 2018 agreement into a multi-year discovery, development, and commercialization collaboration of novel immune evasion therapies in oncology.
- The deal structure includes:
- $125M up-front payments and a $20M equity investment.
- Opt-in rights to up to 15 targets up to $410M per program in total payments from Gilead to Tango.
- Gilead will have worldwide rights for programs over the next seven years, with the option to pay extension fees for Tango to lead activities through early clinical development.
- In return, Tango will receive low double-digit royalties on net sales, milestone payments and royalties on ex-U.S. sales, and have the option to co-develop and co-promote lead products for up to five programs in the U.S.
- The agreement will give Gilead access to Tango’s CRISPR-based functional genomics target discovery platform to explore investigational immune evasion targets in oncology.