Argenx Agrees to Acquire Forte Biosciences in $2.2 Billion Deal
argenx has entered into an agreement to acquire Forte Biosciences for approximately $2.2 billion, aiming to expand its immunology portfolio with FB102, a first-in-class anti-CD122 antibody currently undergoing Phase II trials. The deal is expected to close in the third quarter of 2026 and includes a cash tender offer at $77 per share for Forte Biosciences' common stock. This represents an 86% premium over its volume-weighted average price following positive trial data announced earlier this year. The acquisition will be funded entirely from argenx's existing cash reserves. FB102 has shown promise in Phase Ib studies targeting vitiligo and celiac disease, prompting the strategic shift from investment to full ownership by argenx. Once acquired, FB102 will join other antibody-based programs such as adimanebart and efgartigimod.
Topics: biotech immunology pharmaceutical