Key Points – argenx agreed to acquire Forte Biosciences for approximately $2.2 billion in equity value, offering $77 per share in an all-cash tender offer expected to close in the third quarter, subject to customary conditions. – The acquisition adds FB102, an anti-CD122…
tibody designed to target pathogenic T and natural killer cells while preserving regulatory T-cell activity. The drug is being developed for autoimmune diseases including vitiligo, celiac disease, alopecia areata and potentially other indications. – Early Phase 1b results showed improvements in vitiligo and positive findings in celiac disease; a Phase 2 celiac trial is ongoing, with results expected by year-end. argenx will use upcoming data to determine FB102’s broader development and commercialization strategy. – 2 Ways to Play the Big Pharma Patent Cliff argenex (NASDAQ:ARGX) said it has agreed to acquire Forte Biosciences in a transaction valued at approximately $2.2 billion in equity value, adding FB102, an anti-CD122 antibody being developed for autoimmune diseases including vitiligo and celiac disease
Under the agreement, argenex will commence a cash tender offer for all outstanding Forte shares at $77 per share. The transaction will be funded entirely with cash on hand, is not subject to a financing condition, and has been approved by both companies’ boards of directors. The company expects the acquisition to close during the third quarter, subject to customary closing conditions. – 3 Healthcare Pathbreakers With Long-Term Tailwinds Karen Massey, argenex’s chief executive officer, described the deal as an investment in the company’s next stage of growth and its objective of becoming a broader immunology innovator.
She said the acquisition aligns with the company’s Vision 2030 strategy, which includes expanding VYVGART, advancing new pipeline medicines and pursuing differentiated biology through internal research, partnerships, investments and acquisitions. “Our ambition has never been…