Covington Represents Gilead in its Acquisition of Ouro Medicines

WASHINGTON—Covington advised Gilead Sciences, Inc. in its definitive agreement to acquire Ouro Medicines. Under the terms of the agreement Gilead will acquire all of the outstanding equity of Ouro Medicines for a total of up to $2.175 billion, comprised of $1.675 billion in upfront cash consideration, subject to customary adjustments, which is payable at closing, and up to $500 million in contingent milestone payments. Gilead contemplates entering into a research and development collaboration with Galapagos covering the acquired Ouro Medicines assets.

The acquisition adds OM336 (gamgertamig), a clinical‑stage BCMAxCD3 T cell engager, to Gilead’s growing inflammation portfolio. Gamgertamig is designed to enable rapid and deep B cell depletion following a limited subcutaneously administered treatment course. Gamgertamig has been granted both Fast Track and Orphan Drug Designation by the U.S. FDA for the treatment of autoimmune hemolytic anemia and immune thrombocytopenia and is expected to enter registrational studies in 2027.