06:40 AM EDT, 03/24/2026 (MT Newswires) -- Gilead Sciences ( GILD ) has agreed to acquire autoimmune disease therapy developer Ouro Medicines for up to $2.18 billion, while the biopharmaceutical firm is in collaboration talks with Galapagos (GLPG) on the assets from the proposed deal.

Gilead will pay $1.68 billion in cash for Ouro Medicines as well as up to $500 million in contingent milestone payments, it said late Monday. The completion of the deal is subject to expiration or termination of certain regulatory filings, according to the company.

Shares of Gilead edged down 0.2% in Tuesday's most recent premarket activity.

"This acquisition underscores our commitment to advancing transformative therapies for people living with serious autoimmune diseases," Gilead Chief Medical Officer Dietmar Berger said in a statement.

The transaction will add Ouro Medicines' investigational BCMAxCD3 bispecific T cell engager, OM336, to Gilead's inflammation portfolio. The product is being designed for the treatment of severe antibody-mediated orphan diseases, including autoimmune hemolytic anemia and immune thrombocytopenia, and has received fast-track and orphan drug designation by the Food and Drug Administration.

"With support from Gilead and Galapagos, we can build on the strong early foundation - leveraging its proven track record in late stage development, launch, and commercialization to accelerate our programs," Ouro Medicines Chief Executive Jaideep Dudani said.

Gilead said it's currently in advanced discussions with Belgian pharmaceutical research company Galapagos regarding a potential research and development collaboration on the acquired assets from the Ouro acquisition.

Under the terms proposed, Galapagos will pay 50% of both the upfront cash consideration and any contingent milestone payments related to the Ouro Medicines deal, the companies said separately. Galapagos will take over substantially all of Ouro Medicines' operating assets and retain all of its employees.

"We look forward to finalizing our discussions with Gilead and, at the appropriate time, providing additional information regarding the gamgertamig clinical program," Galapagos Chief Executive Henry Gosebruch said.

Galapagos intends to take responsibility for the development costs of OM336 through registrational studies. Gilead will retain worldwide commercialization rights, except for Greater China, and pay royalties to Galapagos of 20% to 23% of net sales.

Last month, Gilead agreed to acquire cancer therapy developer Arcellx (ACLX) in a deal worth $7.8 billion.