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Covington Represents Gilead in Acquisition of Oral IL-23R Inhibitor Program from PepStar Therapeutics

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  • Covington Represents Gilead in Acquisition of Oral IL-23R Inhibitor Program from PepStar Therapeutics

WASHINGTON—Covington advised Gilead Sciences, Inc. in its entrance into a definitive agreement to acquire an oral IL-23R inhibitor program, including lead asset HCXT-2001, from PepStar Therapeutics Limited, a privately held, clinical-stage biotechnology company. Under the terms of the agreement, Gilead will acquire the program from PepStar for $1.275 billion, subject to customary adjustments.

HCXT-2001 is an investigational, clinical-stage, oral, macrocyclic peptide inhibitor of IL-23R with an extended half-life, offering a potentially differentiated approach to oral IL-23 pathway inhibition. IL-23R is a clinically validated target in immune-mediated inflammatory diseases, including Inflammatory Bowel Diseases (IBD), with potential applications in psoriasis.

The Covington team included Catherine Dargan and Ingrid Rechtin (M&A), Amanda Austin, Winsome Cheung, Georgina Suzuki, and Sara Needles (Life Sciences Transactions), and Ning Lu (China Corporate). 

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