Gilead Sciences agreed to acquire privately held Ouro Medicines for $2.17 billion, adding a clinical-stage BCMAxCD3 T-cell engager designed for autoimmune diseases. The acquisition centers on gamgertamig (OM336), which is in phase I/II studies for conditions including autoimmune hemolytic anemia and immune thrombocytopenia, and has received Fast Track and Orphan Drug Designation from the FDA. The upfront-and-milestone structure is notable for its speed and risk profile: Gilead will pay $1.675 billion in cash upfront and up to $500 million in contingent payments. Gilead also disclosed advanced discussions with Galapagos to pivot their long-running partnership toward gamgertamig after the close. Under the proposed arrangement, Galapagos would take on development through registrational studies, while Gilead keeps worldwide commercialization rights outside China, where Keymed Biosciences already holds a license. The deal is positioned to expand Gilead’s inflammation pipeline and broaden its cell- and bispecific-inspired immune reset strategy. The transaction follows Gilead’s earlier, large-scale cell therapy moves and reinforces the market’s focus on bispecific and T-cell engager assets for hard-to-treat immune-mediated indications.