Asia
Keymed Biosciences Receives $257 Million Upfront Payment After Gilead-Ouro Deal Close
Keymed Biosciences (HKG:2162) received an upfront payment of $257 million following the completion of Gilead Sciences' acquisition of Ouro Medicines, according to a Friday Hong Kong bourse filing.Under the transaction, Gilead acquired all equity interests in Ouro Medicines for an upfront payment of $1.68 billion and potential milestone payments of up to $500 million.The company said its existing licensing agreement with Ouro Medicines remains in effect, preserving its eligibility for up to $610 million in development and commercial milestones, as well as tiered royalties on net sales.
HKG:2162
