Gilead Sciences to Acquire Ouro Medicines for Up to $2.2 Billion

LootboxPhobia · 2026-03-23T23:57:59+00:00

Gilead Sciences announced the acquisition of Ouro Medicines for a total transaction value of $1.675 billion, plus potential milestone payments of up to $500 million. Ouro focuses on T-cell therapies for autoimmune diseases, with its drug OM336 demonstrating efficacy. Gilead also plans to establish a partnership with Galapagos to share operational costs and market rights. This is Gilead's second major acquisition in the recent period.

LootboxPhobia

2026-03-23 23:57:59

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Investing.com - Gilead Sciences announced on Monday that it has signed a definitive agreement to acquire Ouro Medicines, a private biotech company focused on developing T-cell engager therapies for autoimmune diseases.

This acquisition will see Gilead pay $1.675 billion in upfront cash (subject to customary adjustments), plus up to $500 million in milestone payments.

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The deal will bring the clinical-stage BCMAxCD3 T-cell engager OM336 (gamgertamig) into Gilead’s inflammation portfolio. OM336 has received fast track and orphan drug designations, aiming to quickly clear B cells via subcutaneous injection. In ongoing Phase 1/2 clinical trials, the drug has shown efficacy in severe autoimmune diseases, including autoimmune hemolytic anemia and immune thrombocytopenia.

Gilead plans to reach a strategic partnership with Galapagos regarding the Ouro portfolio. Under the proposed arrangement, Galapagos will pay 50% of the upfront consideration and milestone payments, acquire nearly all of Ouro’s operational assets, and retain its employees. Galapagos will be responsible for development costs before trial initiation, with subsequent costs shared equally by both parties.

Gilead will retain exclusive global commercialization rights, excluding Greater China, where rights belong to Keymed Biosciences. Gilead will pay Galapagos a royalty of 20% to 23% of net sales.

The partnership will also amend the traditional option licensing and collaboration agreement with Galapagos, allowing up to $500 million of Galapagos’s current cash to be freely available, with up to $150 million potentially used for share repurchases.

This is Gilead’s second major deal within a month. In February 2026, Gilead announced a definitive agreement to acquire Arcellx at $115 per share in cash, plus $5 per share in potential earnout rights, implying an implied equity value of $7.8 billion at closing. Arcellx is a biotech company focused on immunotherapies for cancer and other diseases.

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