Gilead bets $1.275 billion on a peptide pill

On October 22, 2026, Gilead Sciences agreed to pay $1.275 billion upfront for HCXT-2001, an oral peptide from the Shanghai biotech PepStar Therapeutics. It is being developed for inflammatory bowel disease, with psoriasis a possible second use. The deal is expected to close by the end of 2026.

What HCXT-2001 is

It is a macrocyclic peptide, a short chain of amino acids closed into a ring. The ring shape makes it tougher, so it can survive the gut and last longer in the body. It blocks the receptor for IL-23, an immune signal behind much of the inflammation in Crohn’s disease, ulcerative colitis and psoriasis. Injectable drugs already work through the IL-23 pathway; the bet is that a pill can do the same job.

Where it stands

It is in Phase 1, the first studies in healthy volunteers, testing two tablet versions. No results have been published yet, and it is not approved for any use.

Why oral peptides matter

Most peptide medicines are injected, because the stomach breaks peptides down before they can be absorbed. That is changing. The Wegovy pill, approved in December 2025, was the first peptide weight-loss medicine taken by mouth, and deals like this one show drugmakers pushing the same idea into immune disease.