Gilead to Buy Ouro Medicines for Its Autoimmune Drugs (2)

Gilead Sciences Inc. said it would acquire Ouro Medicines, a closely held company testing novel antibody drugs against autoimmune diseases, for as much as $2.18 billion.

Under terms of the deal, Gilead will pay $1.68 billion in cash up front to buy Ouro, plus as much as $500 million more contingent on meeting certain milestones. The deal would provide Gilead access to Ouro’s antibody drug gamgertamig, which received so-called “Fast Track” designation from the US Food and Drug Administration in January. It’s in early-stage trials for autoimmune hemolytic anemia, immune thrombocytopenia and other autoimmune conditions.

The Financial Times reported ...