LongRiver Investments has backed PepStar across three consecutive financing rounds, beginning with its seed round, supporting the company’s development of innovative peptide therapeutics.
Founded in 2023, PepStar develops novel peptide medicines, with a pipeline spanning solid tumors, autoimmune diseases, allergy and inflammation.
Originally developed by PepStar, HCXT-2001 is an investigational oral macrocyclic peptide inhibitor of IL-23R with an extended half-life, currently in Phase 1 clinical trials. Gilead sees potential for HCXT-2001 as a monotherapy or in combination with its other investigational medicines to address unmet needs in immune-mediated inflammatory diseases.
The upfront payment is payable at closing and subject to customary adjustments. The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions.
PepStar is the fifth company in LongRiver’s healthcare portfolio this year to announce a major licensing or asset transaction, or complete an acquisition.
Other LongRiver portfolio companies, including Rona Therapeutics, SciBrunch Therapeutics, Sironax, Ouro Medicines and Allorion Therapeutics, have pursued international partnerships and transactions to advance their programs and expand their global reach.
