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Tango Therapeutics has cut its first major business deal since debuting last year, a collaboration with the big California drug maker Gilead Sciences (GILD)  that will pay the Cambridge, Mass., biotech $50 million up front.

Tango, a privately held firm developing a new generation of targeted cancer therapies using the latest advances in DNA sequencing, will work with Gilead to identify new immunotherapy targets. Immunotherapy relies on the body’s own immune system to fight cancer.

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