Gilead Acquires Global Rights to PepStar Therapeutics Oral IL-23R Inhibitor HCXT-2001 for $1.275 Billion Upfront

Gilead has acquired global development rights to HCXT-2001, an oral IL-23R inhibitor from PepStar Therapeutics, for an upfront payment of $1.275 billion. The Phase 1 asset is a half-life-extended oral cyclic peptide IL-23R inhibitor, and the deal is expected to close in the fourth quarter of 2026. Hankang Capital invested in PepStar's Series A round in March 2026.