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Gilead Sciences (GILD) and Tango Therapeutics to Expand Strategic Oncology Collaboration
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Under the terms of the collaboration, Gilead will make a $125 million upfront payment to Tango and a $20 million equity investment in the company. In addition, Gilead will have the right to option up to 15 programs over the seven-year collaboration for up to $410 million per program in opt-in, extension and milestone payments. Tango will also be eligible to receive up to low double-digit tiered royalties on net sales. For those products that Tango opts to co-develop and co-promote, the parties will equally split profits and losses, as well as development costs, in the U.S., and Tango will be eligible to receive milestone payments and royalties on ex-U.S. sales.
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Strategic Initiative Date
Announcement Date: Aug 17, 2020 Projected Implementation: Q3, 2020 Relevance Tracked Until: Q4, 2020
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Related Keywords Oncology, Immuno-oncology