Gilead Sciences and Lakefront Biotherapeutics announced the completion of the previously disclosed acquisition of Ouro Medicines, expanding their capabilities in T cell engager therapies for autoimmune diseases. The transaction adds gamgertamig (OM336), a clinical-stage BCMAxCD3 T cell engager, to Gilead’s growing inflammation portfolio and establishes the foundation of Lakefront’s clinical development pipeline.
Gamgertamig is being developed to enable rapid and deep plasma cell and B cell depletion through a limited subcutaneous treatment course, with the goal of providing durable disease control for severe antibody-mediated disorders such as autoimmune hemolytic anemia (AIHA) and immune thrombocytopenia (ITP). The therapy has received both Fast Track and Orphan Drug Designations from the U.S. Food and Drug Administration and is expected to enter registrational studies as early as 2027.
Under the terms of the agreement, Gilead acquired all outstanding equity of Ouro Medicines for $1.675 billion, with the potential for up to $500 million in additional milestone payments. Gilead and Lakefront will equally share the upfront payment and the contingent milestone payments. As part of the transaction, Lakefront acquired substantially all of Ouro’s team and operational assets and will collaborate with Gilead on the development of gamgertamig.
Lakefront will oversee ongoing and future Phase 1/2 studies of gamgertamig, while Gilead will lead registrational and later-stage clinical development. Gilead will retain exclusive global commercialization rights outside of Keymed Biosciences’ territories, and Lakefront will receive tiered royalties ranging from 20% to 23% on net sales. Lakefront also secured rights to three additional preclinical autoimmune programs originally developed by Ouro, with Gilead holding an option to participate in future profits following proof-of-concept studies.
The companies said the transaction supports Gilead’s long-term strategy of investing in differentiated science and advancing therapies aimed at shifting treatment approaches from chronic disease management toward durable immune reset. Following the transaction, Lakefront expects to maintain a year-end 2026 cash balance of approximately €2 billion, providing resources for additional strategic investments and capital allocation priorities.
