Gilead (GILD) and Lakefront Acquire Ouro Medicines for $1.67 Billion to Co-Develop Gamgertamig

Gilead Sciences Inc. (NASDAQ: GILD) and investment firm Lakefront Partners on June 5, 2026, agreed to acquire biotech Ouro Medicines in a deal valued at $1.67 billion. The transaction centers on the co-development of gamgertamig, Ouro’s bispecific antibody candidate for solid tumors. Under the agreement, Gilead will hold a majority equity stake and assume lead responsibility for clinical advancement of gamgertamig, which is currently in Phase 1/2 testing. Lakefront, a life sciences-focused investor, will provide strategic financing. The upfront cash payment is priced at $900 million, with up to $770 million in contingent milestone payments tied to regulatory and commercial achievements. The deal grants Gilead a pipeline asset targeting multiple oncology indications, reinforcing its push into immuno-oncology following recent collaborations. Ouro’s platform is designed to redirect T-cell activity against tumor-specific antigens. The companies expect the acquisition to close in the third quarter of 2026, subject to antitrust clearance.