Gilead agrees to pay $1.28 billion upfront to China's PepStar for oral IL-23 inflammation drug candidate

Gilead Sciences announced a deal with Chinese biotech PepStar Therapeutics to acquire an early-stage oral IL-23 inhibitor.

The agreement includes an upfront payment of roughly $1.28 billion for PepStar's Phase 1 asset, which targets inflammatory conditions.

The transaction underscores Gilead's push to broaden its portfolio in the inflammation space and to secure promising candidates in the Chinese market.

Details beyond the financial terms were not disclosed in the announcement.