Gilead's $2.2bn Acquisition of Ouro Medicines Marks Entry into T-Cell Engager Space

Gilead Sciences is acquiring Ouro Medicines for $2.2bn, marking its first move into the T-cell engager space. The deal involves the BCMA/CD3-targeting TCE, gamgertamig, and complements Kite's autoimmune push. Gilead may add complexity to the deal as it's in talks with Galapagos to co-develop gamgertamig, potentially seeing Galapagos take on half of the upfront and milestone payments. Galapagos is restructuring, focusing on acquiring late-stage assets with its $3.5bn cash reserves.