Gilead Acquires PepStar's Oral IL-23R Program for $1.275 Billion Upfront

Gilead will acquire the oral IL-23R inhibitor program of PepStar Therapeutics for an upfront cash payment of $1.275 billion, gaining global rights including lead candidate HCXT-2001. HCXT-2001 is in clinical development as an oral macrocyclic peptide IL-23R inhibitor with a long half-life, offering a potential differentiated therapy for IBD and possible expansion into psoriasis. Closing remains subject to customary conditions and is expected in the fourth quarter of 2026. Eight Roads was PepStar's angel investor and added investments across three consecutive rounds.