Tango Therapeutics of Cambridge has expanded its collaboration with the big California drug maker Gilead Sciences and will receive $125 million up front plus a $20 million equity investment as they work together to develop a new generation of targeted cancer therapies.
The two companies cut a $50 million deal in 2018 for Gilead to acquire options to worldwide rights for treatments on up to five cancer drug targets identified by Tango. The new deal expands the number of targets to 15. Gilead will have rights for programs directed at those targets over the next seven years. In a related matter, Tango announced Monday that it had raised $50 million in equity financing in an effort led by Casdin Capital.
Jonathan Saltzman can be reached at firstname.lastname@example.org.