Gilead Sciences (GILD.US) to acquire PepStar oral inflammatory drug program for $1.275 billion in cash, bolstering inflammatory bowel disease pipeline

Zhito Finance APP has learned that Gilead Sciences (GILD.US) said on Thursday that it will acquire PepStar Therapeutics' oral inflammatory drug programs for an upfront cash payment of $1.275 billion, including an experimental therapy for intestinal diseases. The deal comes after positive interim results were announced on Monday for emvistegrast, Gilead's experimental oral drug for treating chronic intestinal diseases, adding an inflammatory bowel disease (IBD) candidate to its portfolio. Gilead said it believes HCXT-2001 has the potential to be developed on its own or in combination with other programs in its pipeline.