Lakefront Biotherapeutics and Gilead Sciences have completed the acquisition of Ouro Medicines, adding the T cell engager gamgertamig (OM336) to their autoimmune pipelines. Gilead acquired all Ouro equity for $1,675 million plus up to $500 million in milestones, with Lakefront and Gilead splitting these payments equally.
Gamgertamig is a BCMAxCD3 T cell engager in Phase 2 with U.S. FDA Fast Track and Orphan Drug Designations and is expected to enter registrational studies as early as 2027. Lakefront takes on Phase 1/2 development while Gilead leads later-stage and commercialization, paying Lakefront tiered royalties of 20%–23% on net sales.
Lakefront also in-licensed three preclinical autoimmune programs with a Gilead opt-in for $75 million per program and a 50/50 profit split post proof-of-concept. The deal modifies the existing OLCA, allowing Lakefront to deploy at least $500 million of its cash independently, including up to $150 million for share buybacks, and the company expects a year-end 2026 cash balance of about €2B.