Gilead to Acquire Ouro Medicines for $1.675B, Expand Autoimmune Disease Pipeline

Gilead Acquires Ouro Medicines for $1.675 Billion to Advance Autoimmune Disease Therapies

Gilead Sciences (Nasdaq: GILD) announced a definitive agreement on March 23, 2026, to acquire Ouro Medicines, a privately held biotechnology company specializing in T cell engager therapies for autoimmune diseases.^{1, 2, 3, 4} The acquisition, valued at $1.675 billion upfront plus potential milestone payments of up to $500 million, aims to bolster Gilead’s inflammation portfolio with a promising new therapeutic approach.^{1, 2, 3}

OM336 (Gamgertamig): A Novel T Cell Engager

The core of the acquisition is OM336, also known as gamgertamig, a clinical-stage bispecific BCMAxCD3 T cell engager.^{1, 4} This therapy is designed to rapidly and deeply deplete B cells, offering a potential treatment for severe antibody-mediated autoimmune diseases.^{1, 4} OM336 has shown promising results in Phase 1/2 clinical trials for autoimmune hemolytic anemia (AIHA) and immune thrombocytopenia (ITP), demonstrating both efficacy and a differentiated safety profile after a single treatment cycle.¹

The U.S. Food and Drug Administration (FDA) has granted OM336 both Speedy Track and Orphan Drug Designation for AIHA and ITP.¹ Registrational studies are anticipated to initiate in 2027.¹

Strategic Collaboration with Galapagos

Alongside the acquisition, Gilead intends to establish a strategic collaboration with Galapagos.^{1, 2, 4} Under the proposed arrangement:

• Galapagos would contribute 50% of the upfront consideration and any contingent milestone payments.²
• Galapagos would assume substantially all of Ouro Medicines’ operating assets and retain its employees.²
• Gilead and Galapagos will jointly develop OM336, with Galapagos leading development through the initiation of registrational studies, sharing costs equally thereafter.²
• Gilead will retain worldwide commercialization rights (excluding Greater China, where Keymed Biosciences holds rights) and will pay Galapagos royalties ranging from 20% to 23% of net sales.²
• The existing Galapagos Option License and Collaboration Agreement (OLCA) will be amended to allow Galapagos to utilize up to $500 million of its current cash reserves, including up to $150 million for potential share repurchases.²

The Potential of BCMA-Targeted T Cell Engagers

“BCMA is a validated target with emerging data demonstrating potentially transformative outcomes in autoimmune diseases,” said Dietmar Berger, MD, PhD, Chief Medical Officer of Gilead.¹ BCMA-targeted T cell engagers offer a precision approach by eliminating pathogenic B cells and plasma cells, potentially leading to durable disease control and, in some cases, immune remission without ongoing immunosuppression.¹ This modality complements Gilead’s existing portfolio of CAR-T cell therapies.¹

Transaction Details and Financial Advisors

The acquisition is subject to customary closing conditions, including regulatory approvals.¹ Centerview Partners LLC and TD Cowen advised Gilead, while Goldman Sachs & Co. LLC advised Ouro Medicines, and Morgan Stanley & Co., LLC advised Galapagos.¹ Legal counsel was provided by Covington & Burling LLP, Mayer Brown LLP, and Arnold & Porter Kaye Scholer LLP for Gilead; Goodwin Procter LLP for Ouro Medicines; and Paul Weiss LLP and Linklaters LLP for Galapagos.¹

About the Companies

Gilead Sciences is a biopharmaceutical company committed to developing innovative therapies for life-threatening diseases, including HIV, viral hepatitis, COVID-19, cancer, and inflammation.¹

Ouro Medicines is a clinical-stage biotechnology company focused on developing immune reset therapeutics for chronic immune-mediated diseases.¹

Disclaimer: This article contains forward-looking statements from Gilead Sciences, Inc. As of March 23, 2026, which are subject to risks and uncertainties. See Gilead’s Annual Report on Form 10-K for the year ended December 31, 2025, for further details.¹