Connora fully sells its stake in Ouro Medicines, involving an investment of up to 2.5 billion

SighingCashier · 2026-03-24T00:30:49+00:00

Connoyo (02162) announced that it will sell its 15% stake in Ouro Medicines and will receive approximately $250 million as an upfront payment and up to $70 million in milestone payments, with a total value of approximately $320 million. This move will enhance the company's cash reserves and support the commercialization of its core products and research. After the transaction, Connoyo will no longer hold any shares in Ouro Medicines.

SighingCashier

2026-03-24 00:30:49

Abstract generation in progress

Concordia (02162) announced that Ouro Medicines, in which the company holds a 15% stake, has informed the company that on March 23, the buyer agreed to acquire Ouro Medicines through an acquisition. The acquisition agreement stipulates that the initial payment upon completion will be $1.675 billion, with contingent milestone payments not exceeding $500 million, for a total maximum amount of $2.175 billion.

Concordia will receive an initial payment of approximately $250 million and contingent milestone payments of no more than about $70 million for its 15% stake in Ouro Medicines, with a total maximum of approximately $320 million (about HKD 2.496 billion). Once received, these funds will further strengthen the company’s cash reserves, enabling rapid commercialization of core products and continued research and development of potential pipelines.

Immediately after completion, Concordia will no longer hold any equity in Ouro Medicines.

Ouro Medicines is a Delaware-based company primarily engaged in the development and commercialization of CM336/OM336. The buyer is Gilead Sciences, a biopharmaceutical company.

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