Gilead Sciences agreed to acquire Ouro Medicines in a $2.17 billion deal to add OM336 (gamgertamig), a BCMAxCD3 T-cell engager, to its inflammation portfolio. The transaction includes $1.675 billion in upfront cash and as much as $500 million in contingent milestone payments, with Gilead planning registrational studies to start in 2027. The deal also comes with an unusual financing and development arrangement involving Gilead’s partner Galapagos. Gilead said it is in advanced discussions for Galapagos to absorb substantially all of Ouro’s operating assets and retain employees, while sharing development execution through a cost-sharing and co-development structure. Gilead expects to leverage Galapagos’ clinical development and aims to preserve commercialization rights, with the exception of China where Keymed Biosciences already holds a license. Regulators have granted Fast Track and Orphan Drug Designation to gamgertamig as Gilead positions the asset for autoimmune hemolytic anemia and immune thrombocytopenia. For Galapagos, the agreement represents a path to refocus resources after its earlier retreat from cell therapy; for Gilead, it signals continued investment in bispecific T-cell engager platforms as it also integrates additional cell-therapy growth strategies.