Gilead agrees to pay $1.275B for PepStar oral IL-23 inhibitor program

Gilead Sciences agreed to pay $1.275 billion upfront for global rights to PepStar Therapeutics’ oral IL-23 receptor inhibitor program, led by HCXT-2001, an experimental drug now in Phase 1 trials. Gilead is prioritizing its potential for inflammatory bowel disease, with possible applications in psoriasis and other immune-mediated conditions. The company says the oral drug could be used alone or alongside its IBD candidate emvistegrast, which has shown promise in a Phase 2 ulcerative colitis trial. The transaction is expected to close in the fourth quarter of 2026, subject to customary conditions.