Tango Therapeutics Raises $60 Million Series B Financing and Strengthens Executive Team
09 Abril 2020 - 07:00AM
Business Wire
- Participants include leading public investors
Boxer, Cormorant and Casdin -
- Proceeds will advance lead program into
IND-enabling studies -
Tango Therapeutics, a biotechnology company focused on
discovering and delivering the next generation of targeted cancer
therapies, today announced the closing of an oversubscribed Series
B financing of $60 million led by Boxer Capital of the Tavistock
Group. Cormorant Asset Management and Casdin Capital are additional
new investors in the round.
“We are very fortunate to have the support of this strong
syndicate of cross-over investors as we bring our first targeted
therapies based on the genetic concept of synthetic lethality to
well-defined patient populations,” said Barbara Weber, MD,
President and Chief Executive Officer of Tango. “This financing
will support our lead program into IND-enabling studies early next
year as well as multiple other ongoing target and drug discovery
efforts.”
Additionally, Tango announced leadership appointments of
Daniella Beckman, Chief Financial Officer, John C. Ross, Vice
President of Human Resources and Samy Tadros, Vice President of
Business Development.
Daniella Beckman, CPA, brings more than 20 years of strategic,
financial and operational experience to her role at Tango
overseeing finance, investor relations and business development.
She served as interim Chief Financial Officer for Tango since its
inception, and prior to that, for other early-stage biotechnology
companies, including Neon Therapeutics. Previously, Ms. Beckman was
the Chief Financial Officer of Idenix Pharmaceuticals, where she
oversaw finance, investor relations and IT until it was acquired by
Merck in 2014. Prior to serving as CFO, Ms. Beckman served as
corporate controller for Idenix. She previously held finance
positions at Coley Pharmaceuticals, Biogen Idec and
PricewaterhouseCoopers. Ms. Beckman serves on the board of
directors of Translate Bio. Ms. Beckman has a BA in business
administration/accounting from Boston University and is a certified
public accountant in Massachusetts.
John C. Ross, MS, MHRIR, joins Tango after serving as senior
director of human resources for the surgical medical device
business at Alcon, formerly a division of Novartis. Mr. Ross helped
to facilitate the company’s spinoff from Novartis in 2019. Prior to
Alcon, he served in multiple human resources leadership roles in
Novartis Oncology and Novartis General Medicines in the U.S. and
Europe. Mr. Ross also has held HR leadership roles at Google and
Honeywell. Mr. Ross earned a BS in communications from the
University of Texas at Austin and an MS in human resources and
industrial relations from the University of Illinois.
Samy Tadros, MS, MBA, joins Tango from Celgene, recently
acquired by Bristol Myers Squibb, where he served as Executive
Director, Business Development and Global Alliances. Mr. Tadros
spent more than ten years at Celgene, leading multiple
cross-functional teams and closing many important transactions for
Celgene. Mr. Tadros' transactions spanned the spectrum from early
research agreements to late stage development and commercialization
deals. Before joining Celgene, Mr. Tadros worked at Charles River
Labs and Schering-Plough. Mr. Tadros has a BS in biochemistry from
Concordia University, an MS from the Temple University School of
Pharmacy and an MBA from Fairleigh Dickinson University.
“We’re thrilled Daniella has agreed to join our team as CFO and
to welcome John and Samy into these key leadership roles,” added
Dr. Weber. “Insights from all three industry leaders will be
invaluable as we advance our pipeline of next-generation targeted
cancer therapies and bring novel therapies to patients.”
About Tango Therapeutics
Tango Therapeutics is a biotechnology company dedicated to
discovering novel drug targets and delivering the next generation
of targeted therapies to people with cancer. Using an approach that
starts and ends with patients, Tango leverages the genetic
principle of synthetic lethality to discover and develop therapies
that take aim at driver genes in cancer. The company is focused on
three core areas: counteracting tumor suppressor gene loss,
reversing the ability of cancer cells to evade the immune system
and identifying novel combinations that will be more effective than
single agent therapy. Tango was launched in 2017 with a $55 million
Series A investment from Third Rock Ventures and announced a
strategic collaboration with Gilead Sciences in November 2018 with
a $50 million upfront payment. For more information, please visit
www.tangotx.com.
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Molly Rusert Ten Bridge Communications
molly@tenbridgecommunications.com 612-232-2084