Shares of KEYMED BIO-B (ASX: 02162) are rising close to 6%. At the time of writing, they are up 4.95%, trading at HK$58.3 with a turnover of HK$70.1441 million.

Recently, the company issued an announcement regarding the sale of its minority stake in Ouro Medicines. On June 5, 2026, the acquisition agreement disclosed in the announcement, involving the group's NewCo joint venture Ouro Medicines, has now been formally completed. The group has received an initial payment of $257 million.

Under the terms of the acquisition agreement, Gilead acquired all equity in Ouro Medicines for an upfront payment of $1.675 billion and potential milestone payments of up to $500 million. The group was informed that, according to an arrangement between Gilead Sciences and Lakefront Biotherapeutics NV (Euronext & Nasdaq: LKFT, formerly Galapagos), the two parties will share the upfront payment and the potential milestone payments of up to $500 million equally, subject to customary adjustments.

As a shareholder in Ouro Medicines, the group received approximately $257 million as its portion of the upfront payment and is entitled to potential milestone payments of up to approximately $70 million.

Furthermore, the exclusive license agreement entered into between the group and Ouro Medicines in November 2024 remains in effect. The potential milestone payments of up to $610 million and the tiered royalties on net sales are obligations to be fulfilled by Gilead and Lakefront.