Gilead Accelerates Immunology Strategy Through Ouro Medicines Acquisition

Gilead Sciences, Inc. (“Gilead”), a global biopharmaceutical company, has entered into a definitive agreement to acquire Ouro Medicines (“Ouro”), a privately held, clinical-stage biotechnology company. Under the terms of the agreement, Gilead will purchase all outstanding equity of Ouro for US$1.675 billion in cash at closing, with the potential for up to an additional US$500 million in contingent milestone payments.

Gilead has been involved in the development of innovative medicines and therapies for more than three decades, focusing on preventing and treating life-threatening diseases. Headquartered in Foster City, California, the company operates in over 35 countries worldwide. Ouro, the target of the acquisition, is a newly launched company based in San Francisco. Founded in 2025, Ouro is dedicated to developing immune therapeutics for individuals living with chronic immune-mediated conditions through the development of T-cell engager therapies.

This acquisition supports Gilead’s mission to advance transformative therapies for serious autoimmune diseases by adding OM336 to its inflammation pipeline. OM336 is an antibody designed to bind BCMA and CD3, two immune cell proteins that have become prominent targets in therapeutic drug development. OM336 is currently undergoing clinical testing for several rare conditions.

The transaction also reflects broader industry momentum, as both emerging startups and major pharmaceutical companies are investing heavily in T-cell engager technologies. Among startups, companies such as Excalipoint Therapeutics and Crossbow Therapeutics have secured significant venture capital funding to advance their antibody programs. Meanwhile, larger pharmaceutical companies, including Merck & Co. and Bristol Myers Squibb, have recently expanded their portfolios through acquisitions of next-generation T-cell engagers aimed at treating cancer and immune-mediated diseases.

Author: Jenna Principe, 2025/26 Articling Student-at-Law