Gilead Sciences (NYSE:GILD) is nearing a definitive agreement to acquire Ouro Medicines, a biotechnology company focused on chronic immune-mediated diseases, for a total consideration of up to $2 billion.
According to reports from the Financial Times on Monday, the deal structure involves an upfront cash payment of approximately $1.5 billion, with at least an additional $500 million contingent upon the achievement of specified clinical trial milestones.
The acquisition would grant Gilead control over Ouro’s lead candidate, OM336, a BCMA-directed bispecific T-cell engager (TCE) currently being evaluated for its ability to "reset" the immune system.
Unlike traditional immunosuppressants that require lifelong administration, Ouro’s platform aims to achieve durable remission by transiently depleting pathogenic B-cell populations.
The company recently initiated Phase 1b studies for OM336 in Sjögren's disease and idiopathic inflammatory myopathy, building on its existing clinical programs in autoimmune cytopenias.
This move marks Gilead's second major immunology-focused transaction in early 2026, following its $7.8 billion acquisition of Arcellx in February.
By absorbing Ouro, Gilead is doubling down on the transition of T-cell engager technology from oncology into the autoimmune space—a shift that has recently attracted significant investment from across the biopharmaceutical industry.
Ouro was launched in early 2025 by Monograph Capital in partnership with GSK and is led by CEO Jaideep Dudani, a veteran of the immunology sector who previously played a key role in the founding of HI-Bio.