argenx has agreed to acquire Forte Biosciences for approximately $2.2 billion in cash, strengthening its immunology pipeline with a promising experimental therapy for autoimmune diseases.
Under the definitive agreement, argenx will acquire all outstanding shares of Forte Biosciences for $77 per share in cash, valuing the company at approximately $2.2 billion. The acquisition adds FB102, Forte’s lead investigational medicine, to argenx’s growing portfolio of immunology therapies and reinforces the company’s long-term strategy to develop innovative treatments for diseases with significant unmet medical needs.
FB102 is a first-in-class anti-CD122 antibody designed to target immune pathways involved in autoimmune diseases. The therapy has already shown encouraging clinical results in both vitiligo and celiac disease, positioning it as a potential treatment across multiple autoimmune conditions.
Karen Massey, Chief Executive Officer of argenx, said the acquisition supports the company’s Vision 2030 strategy and builds on the strength of its research, development, and commercial capabilities.
She said FB102 fits well with argenx’s approach of investing in therapies backed by strong scientific evidence and meaningful clinical data. According to Massey, the medicine has the potential to redefine treatment standards in diseases that have seen little therapeutic innovation over the years. She also thanked the Forte Biosciences team for advancing the program and expressed confidence that the combined expertise of both companies would help accelerate its development.
Forte Biosciences CEO and Chairperson Paul A. Wagner, Ph.D., described argenx as the ideal partner to unlock the full potential of FB102. He said combining the antibody’s promising clinical profile with argenx’s global development and commercialization capabilities could speed its progress toward patients living with vitiligo, celiac disease, alopecia areata, and other autoimmune disorders.
The acquisition follows a series of positive clinical milestones for FB102. Forte recently reported encouraging Phase 1b results in vitiligo, where the treatment demonstrated statistically significant clinical benefit. Earlier Phase 1b data in celiac disease also produced positive findings, and Phase 2 results from that program are expected later this year.
According to argenx, the positive clinical data played a major role in its decision to move from being a strategic investor to fully acquiring Forte Biosciences. Beyond its current development programs, the company believes FB102 has the potential to treat additional autoimmune diseases, making it what industry experts often describe as a “pipeline-in-a-product.”
FB102 will complement argenx’s existing portfolio, which includes marketed and investigational antibody therapies such as efgartigimod, empasiprubart, adimanebart, and ARGX-121. The addition of an anti-CD122 mechanism broadens the company’s ability to target immune cells involved in a wide range of autoimmune disorders, further expanding its immunology platform.
With the acquisition, argenx aims to accelerate the development of FB102 and strengthen its position as a leading innovator in immunology, while bringing new treatment options to patients affected by chronic autoimmune diseases.