AcquisitionsJun 5, 2026, 06:07 AM
Lakefront Biotherapeutics & Gilead Complete Ouro Medicines Acquisition
AI Summary
Gilead Sciences and Lakefront Biotherapeutics announced the successful completion of the acquisition of Ouro Medicines. This acquisition adds gamgertamig, a clinical-stage T cell engager for autoimmune diseases, to both companies' inflammation pipelines. Gilead acquired Ouro for $1,675 million upfront and up to $500 million in contingent milestone payments, which Lakefront will split equally with Gilead. Lakefront will collaborate on gamgertamig's development, receive tiered royalties on net sales, and has also in-licensed a preclinical portfolio from Ouro.
Key Highlights
- Gilead Sciences and Lakefront Biotherapeutics completed the acquisition of Ouro Medicines.
- Gilead acquired Ouro Medicines for $1,675 million upfront and up to $500 million in contingent milestone payments.
- Lakefront and Gilead will equally split the upfront payment and contingent milestone payments.
- Lakefront acquired Ouro's team and operational assets, collaborating with Gilead on gamgertamig development.
- Lakefront will receive tiered royalties of 20%-23% on net sales of gamgertamig from Gilead.
- Lakefront in-licensed a preclinical portfolio of three additional autoimmune programs from Ouro.
- The transaction enables Lakefront to deploy at least $500 million independently, including up to $150 million for share buybacks.
- Lakefront's year-end 2026 cash balance is expected to be approximately 2 billion.
Price Impact
More from GLPG