Galapagos NV (GLPG) Signs Agreement with Gilead on Ouro Medicines Assets [Yahoo! Finance]
Gilead Sciences, Inc. (GILD)
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Source: Yahoo! Finance
a binding agreement with Gilead Sciences (NASDAQ:GILD) related to Gilead's planned acquisition of Ouro Medicines, a U.S.-based biotech focused on T cell engager therapies for autoimmune diseases. The deal includes access to Ouro's clinical-stage asset gamgertamig, a BCMAxCD3 T cell engager, along with additional preclinical programs. Under the agreement, Galapagos will obtain licenses to key intellectual property, assume certain development responsibilities, and gain operational assets including facilities and personnel, effectively establishing an operating business tied to the programs. The framework also allows Galapagos to deploy at least $500M of its cash independently, including up to $150M for potential share buybacks. Gamgertamig has received Fast Track and Orphan Drug Designation from the FDA for AIHA and ITP and is expected to enter registrational studies as early as 2027. Galapagos will fund early-stage development, while later-stage costs will be shared with Gilead, whic
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