Gilead to acquire PepStar's oral peptide IL-23R inhibitor HCXT-2001 in $1.275 billion deal
Gilead Sciences announced on October 22, 2026 that it will pay $1.275 billion upfront to acquire PepStar Therapeutics' oral IL-23 receptor inhibitor program, including lead asset HCXT-2001, an oral macrocyclic peptide in Phase 1 testing for inflammatory bowel disease. The drug is investigational, years from any approval decision, and the acquisition changes nothing for patients today.
Gilead Sciences announced on October 22, 2026 that it has entered a definitive agreement to acquire an oral IL-23 receptor (IL-23R) inhibitor program, including lead asset HCXT-2001, from PepStar Therapeutics Limited, a privately held, clinical-stage biotechnology company. Under the terms, Gilead will pay $1.275 billion in upfront cash consideration, subject to customary adjustments, and the transaction is expected to close in the fourth quarter of 2026. Gilead said the deal will reduce its GAAP and non-GAAP earnings per share by approximately $0.79 to $0.83 in the closing quarter.
HCXT-2001 is an investigational, oral, macrocyclic peptide inhibitor of IL-23R with an extended half-life, currently in Phase 1 clinical trials. IL-23R is a clinically validated target in immune-mediated inflammatory diseases, including inflammatory bowel disease (IBD), with potential applications in psoriasis. Gilead stated plainly in its announcement that the drug's safety and efficacy have not been established and that it has not been approved by any regulatory authority.
“HCXT-2001 adds a potentially differentiated oral approach to our growing inflammation pipeline,” said Dietmar Berger, Gilead's chief medical officer, noting the company sees potential for the drug alone or in combination with other Gilead programs, including emvistegrast, as a daily oral treatment for people living with IBD. PepStar founder and CEO Haibing Guo said the transaction “underscores the strength of our proprietary oral peptide platform.”
The deal is a significant large-pharma bet on oral peptide drugs for immune-mediated disease, following the same class direction as icotrokinra, the oral IL-23R peptide furthest along in psoriasis and IBD trials. For patients, nothing changes: HCXT-2001 has completed no efficacy trials in patients, Phase 1 testing centers on safety in small groups, and no dosing, price or availability exists. Any future use would follow the standard Phase 2 and Phase 3 trial sequence and regulatory review before doctors could prescribe it.