Gilead Sciences has announced plans to acquire Ouro Medicines in a deal valued at over $2 billion to expand its pipeline in immunology and inflammation.

The transaction includes an upfront payment of approximately $1.68 billion, along with up to $500 million in milestone-based payments linked to development and regulatory progress.

Through the acquisition, Gilead will gain access to Ouro’s lead investigational antibody therapy, OM336, which is currently in early-stage development for autoimmune conditions, including hemolytic anaemia and Sjogren’s disease.

Ouro Medicines is a privately held biotechnology company backed by investors including TPG, GSK, and Monograph Capital.

Gilead stated that the acquisition is aimed at strengthening its pipeline in immune-mediated diseases.

The company is also in discussions with Galapagos NV regarding potential collaboration on the development of Ouro’s assets. Under the proposed arrangement, Galapagos would share development costs and milestone payments, while Gilead would retain global commercialisation rights, excluding Greater China.