Pharma BD Deal Intelligence
Gilead Sciences entered a definitive agreement to acquire an oral interleukin-23 receptor (IL-23R) inhibitor program, including lead asset HCXT-2001, from PepStar Therapeutics Limited, a privately held clinical-stage biotechnology company, for $1.275 billion in upfront cash consideration payable at closing, subject to customary adjustments. HCXT-2001 is an investigational, clinical-stage, oral macrocyclic peptide inhibitor of IL-23R with an extended half-life, in Phase 1 development. Gilead acquires worldwide rights to HCXT-2001 and the broader IL-23R inhibitor program, and has said it sees potential for monotherapy and combination use with other pipeline programs. IL-23R is a clinically validated target across immune-mediated inflammatory diseases including inflammatory bowel disease, with potential application in psoriasis. The transaction is expected to close in the fourth quarter of 2026 and to reduce Gilead's GAAP and non-GAAP EPS by approximately $0.79 to $0.83 in that quarter.