Gilead Sciences agreed to acquire Ouro Medicines in a deal designed to add a BCMAxCD3 T-cell engager to its autoimmune pipeline, while also potentially reshaping its partnership with Galapagos. The front-loaded acquisition is valued at $2.17 billion, combining $1.675 billion in upfront cash with up to $500 million in contingent milestones, and is centered on Ouro’s clinical-stage T-cell engager gamgertamig (also referred to as OM336). Gilead said the asset aims to enable rapid and deep B-cell depletion via a limited subcutaneous course. Gilead also described “advanced discussions” for Galapagos to absorb substantially all of Ouro’s operating assets and retain employees, with Galapagos responsible for development to registrational studies. Under the arrangement, Gilead would keep worldwide commercialization rights except in China where Keymed already holds licensing rights. The structure shows Gilead’s continued emphasis on inflammation and cell-therapy capabilities, while leveraging partner capabilities to manage integration risk and downstream execution.