Hogan Lovells Represents Gilead Sciences Inc. in Strategic Collaboration with Tango Therapeutics

Hogan Lovells represented Gilead Sciences, Inc. in a strategic collaboration with Tango Therapeutics, Inc., a company focused on the discovery and development of novel cancer therapies, on a global strategic collaboration to discover, develop and commercialize a pipeline of innovative targeted immuno-oncology treatments for patients with cancer.

Under the multi-year collaboration, Tango will perform target discovery and validation and Gilead will have options to worldwide rights on up to five targets emerging from Tango’s proprietary functional genomics-based discovery platform. For two programs directed to these targets, Tango will retain the option to co-develop and co-detail in the U.S.

Under the agreement, Tango will receive an upfront payment of USD$50 million, and also be eligible to receive approximately USD$1.7 billion in total additional payments across all programs in the form of pre-clinical fees and development, regulatory and commercial milestone payments; and up to low double-digit tiered royalties on net sales.  For those programs that Tango opts in to co-develop and co-detail, the parties will split profits and losses 50/50 for the U.S., development costs will be shared in a manner that is commensurate with product rights, and Tango will be eligible to receive milestone payments and royalties on ex-U.S. sales.

The deal team was led by Hogan Lovells partner Adam Golden, IP counsel Anishiya Abrol, and associates Jeffrey Jay and Katherine Jeffery.

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