The $77 per share offer represents an 86% premium as argenx expands its pipeline with Forte’s Phase II anti-CD122 antibody.
Argenx will acquire Forte Biosciences for $2.2bn in equity value, pending standard closing conditions and shareholder approval. The deal, expected to finalize in Q3 2026, includes Forte’s lead asset, FB102, a first-in-class anti-CD122 antibody targeting vitiligo and celiac disease.
Forte’s Phase Ib data for FB102 drove the acquisition, with Phase II results anticipated in the second half of 2024. The $77 per share cash offer reflects an 86% premium to Forte’s recent trading levels, underscoring argenx’s confidence in the asset’s potential.
Argenx CEO Karen Massey stated the acquisition aligns with the company’s strategy to strengthen its immunology portfolio. The deal follows argenx’s playbook of targeting clinically validated assets with broad patient applications.