Business
Tango Therapeutics Debuts as Publicly Traded Precision Oncology Company Focused on the Next Generation of Targeted Cancer Therapies
– Business combination transaction with BCTG Acquisition Corp., a special purpose acquisition company sponsored by Boxer Capital, completed today – – Combined
About this update from Tango Therapeutics, Inc.
[{"type":"text","content":"– Business combination transaction with BCTG Acquisition Corp., a special purpose acquisition company sponsored by Boxer Capital, completed today – – Combined company Tango Therapeutics, Inc. will be listed on the Nasdaq Capital Market under ticker symbol “TNGX” – – Total expected cash position of approximately $515 million including gross proceeds from transaction totaling approximately $342 million, combining funds held in BCTG’s trust account and PIPE financing once completed – CAMBRIDGE, Mass., Aug. 10, 2021 (GLOBE NEWSWIRE) -- Tango Therapeutics, Inc. (“Tango Therapeutics” or “Tango”), a biotechnology company committed to discovering and delivering the next generation of precision cancer medicines, today announced the completion of its business combination with BCTG Acquisition Corp. (Nasdaq: BCTG), a special purpose acquisition company (SPAC) sponsored by Boxer Capital. Tango Therapeutics, Inc., the resulting combined company, will commence trading on the Nasdaq Capital Market under the symbol “TNGX” on August 11, 2021. Tango will have a total cash position of approximately $515 million after transactions costs, which includes approximately $342 million from BCTG’s trust account and the private investment in public equity (PIPE) financing expected to fund later today. BCTG’s shareholders approved the transaction on August 9, 2021. The transaction was previously approved by Tango Therapeutics’ shareholders. Tango Therapeutics’ management team will continue to be led by Barbara Weber, MD, President and Chief Executive Officer. “Our strategy for developing precision oncology therapies, along with the capital raised from this transaction, positions us well to advance our lead programs into the clinic, developing potentially transformational therapies for genetically-defined patient populations,” said Dr. Weber. “I want to again thank the many people involved in making this transaction a success, including our new and existing investors, and the Tango, Boxer and BCTG teams.” “Tango’s commitment to developing novel, impactful cancer therapies is demonstrated with its lead program, a synthetic lethal inhibitor of PRMT5 in cancers with MTAP deletion, which has the potential to address a significant patient population across multiple cancer types,” said Aaron Davis, co-founder and Chief Executive Officer of Boxer Capital, LLC and C...