FOSTER CITY (dpa-AFX) - Gilead Sciences, Inc. (GILD), a biopharmaceutical company, announced that it has reached an agreement to acquire investigational oral IL-23R inhibitor program, including lead asset HCXT-2001, from privately held PepStar Therapeutics Ltd.
The transaction is valued at $1.275 billion in upfront cash, subject to customary adjustments, payable at closing.
Gilead said the acquisition is expected to reduce earnings per share on a reported and adjusted basis by approximately $0.79 to $0.83 in the fourth quarter of 2026.
The deal is expected to close in the fourth quarter of 2026, subject to customary closing conditions.
The acquisition provides Gilead global rights to the IL-23R inhibitor program, including HCXT-2001, expanding its portfolio of treatments targeting inflammatory and immune-mediated diseases.
PepStar, a clinical-stage biotech firm, originally developed HCXT-2001, an experimental oral macrocyclic peptide inhibitor of IL-23R currently in Phase 1 clinical trials. The program could offer a new treatment approach for inflammatory bowel disease or IBD, with potential applications in psoriasis.
In the transaction, Lazard is acting as financial advisor to Gilead, while Centerview Partners LLC is the advisor for PepStar.
In overnight activity, the shares were trading 0.21 percent lower at $156.86 on the Nasdaq.
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