Gilead Sciences has agreed to acquire an experimental oral inflammation treatment program from PepStar Therapeutics for $1.275 billion in upfront cash, gaining worldwide rights to lead candidate HCXT-2001 and related assets.
The transaction is expected to close in the fourth quarter of 2026, subject to customary conditions. The purchase price is payable at closing and subject to customary adjustments.
HCXT-2001 is a macrocyclic peptide designed to inhibit the interleukin-23 receptor, or IL-23R. It is currently in Phase 1 clinical trials and has an extended half-life. Its safety and efficacy have not been established, and no regulatory authority has approved it.
The program targets immune-mediated inflammatory diseases, including inflammatory bowel disease, with potential applications in psoriasis.
Gilead plans to explore the drug as a standalone treatment and potentially in combination with other medicines in its pipeline. Chief Medical Officer Dietmar Berger identified emvistegrast as one possible combination partner for a daily oral treatment for inflammatory bowel disease.
The acquisition adds another mechanism to Gilead’s inflammation and immunology portfolio. Its research priorities include inflammatory bowel disease, type 2 inflammatory conditions, lupus and autoimmune diseases involving B cells.
PepStar, a privately held clinical-stage biotechnology company, originally developed HCXT-2001 using its oral peptide platform. Founder and Chief Executive Haibing Guo said Gilead would take the program forward.
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