Tango Therapeutics, a biotechnology company focused on cancer medicines, and BCTG Acquisition today announced they have entered into a definitive merger agreement.
Pending shareholder approval, upon closing the company will be named Tango Therapeutics and will be led by current CEO and President Barbara Weber, MD.
The deal is expected to close in the third quarter, after which the stock will list on the Nasdaq under TNGX.
Terms call for Tango to receive the $167 million held in BCTG Acquisition’s trust account as well as a common stock PIPE of approximately $186 million at $10 per share. Investors in the PIPE include lead investor and SPAC sponsor Boxer Capital, as well as Avoro Capital Advisors, Bain Capital Life Sciences, funds and accounts managed by Blackrock, EcoR1 Capital, Farallon Capital, Fidelity Management & Research Company, Foresite Capital, Janus Henderson Investors, Logos Capital, RA Capital Management, Samsara BioCapital, Southpoint Capital, Surveyor Capital (a Citadel Company) and Woodline Partners, in addition to existing Tango Therapeutics shareholders including Casdin Capital, Cormorant Asset Management and Gilead Sciences. Read more.
