Gilead Sciences agreed to acquire PepStar Therapeutics’ oral IL-23 receptor inhibitor program, HCXT-2001, in a $1.275 billion upfront deal. The asset is in Phase I development and is positioned as a potentially differentiated oral approach to IL-23 pathway inhibition for inflammatory bowel disease. The acquisition also supports Gilead’s broader immunology strategy, with the company highlighting potential use alone or in combination. Gilead’s management framed the move around unmet needs and a potential advantage for daily oral dosing. PepStar’s leadership said the transaction marks a milestone for its pipeline progress, and the deal is expected to close subject to customary adjustments.