US biopharmaceutical company Gilead Sciences has agreed to acquire Ouro Medicines for up to US$2.18 billion, gaining rights to an antibody-based medicine for autoimmune diseases licensed from China’s Keymed Biosciences.

Gilead Sciences is set to acquire biotech firm Ouro Medicines in a deal valued at over $2 billion, aiming to boost its T cell therapy capabilities for autoimmune diseases.