03:25 AM EDT, 03/24/2026 (MT Newswires) -- Gilead Sciences ( GILD ) said late Monday it agreed to acquire privately held biotechnology company Ouro Medicines for up to roughly $2.18 billion.

The company will pay about $1.68 billion in upfront cash for Ouro, upon completion, as well as up to $500 million in contingent milestone payments.

Ouro develops T cell engager therapies for autoimmune diseases. The deal will give Gilead access to Ouro's investigational BCMAxCD3 bispecific T cell engager, OM336, or gamgertamig, for the treatment of autoantibodies driven immune-mediated disease.

The completion of the deal is subject to expiration or termination of certain regulatory filings and other customary conditions, according to the company.