Tango Bypasses IPO Route With SPAC Merger

Tango Therapeutics, Inc. will bring its cash balance to $553m later this year and become a publicly traded company in the US when it closes a merger with the special purpose acquisition corporation (SPAC) known as BCTG Acquisition Corp., which was sponsored by frequent biopharmaceutical company investor Boxer Capital. Tango will raise $353m through the deal announced on 14 April, including $167m held in trust by BCTG and $186m from a concurrent private investment in public equity (PIPE) financings.