argenx signs agreement to buy Forte Biosciences for $2.2bn

argenx has entered a definitive statement to get Forte Biosciences for astir $2.2bn successful full equity value.

Approved by some companies' boards of directors, the transaction is expected to adjacent successful the 3rd 4th of 2026, contingent upon modular closing conditions.

The main plus progressive is FB102, Forte Biosciences' first-in-class anti-CD122 antibody, which volition beryllium added to argenx's immunology portfolio. FB102 was evaluated successful Phase Ib studies for vitiligo and celiac disease.

These studies were a cardinal origin successful deciding to proceed from a strategical concern to acquisition by argenx.

Forte Biosciences expects to merchandise Phase II information for FB102 successful the 2nd fractional of this year.

argenx CEO Karen Massey said: "The acquisition of Forte Biosciences builds connected the spot of that instauration and advances our ambition to beryllium the starring immunology innovator of the future.

"The summation of FB102 to our portfolio aligns perfectly with the argenx playbook: compelling biology, beardown objective validation and wide imaginable to code diligent need.

"I americium grateful to the Forte Biosciences squad for their outstanding work. Together, we look guardant to unlocking the afloat imaginable of FB102 and accelerating its interaction for patients."

Under the agreement, argenx volition statesman a currency tender offer, via a wholly owned subsidiary, for acquiring each of the outstanding Forte Biosciences' communal banal shares astatine $77 per stock price.

This represents a premium of astir 86% to Forte Biosciences' volume-weighted mean terms since announcing affirmative Phase Ib proceedings information for vitiligo connected 9 July.

The connection volition beryllium funded wholly from argenx's currency connected manus and is not taxable to financing conditions.

Completion requires the tender of a bulk of outstanding Forte Biosciences shares and the expiration of applicable regulatory waiting periods.

The transaction volition spot FB102 added to argenx's existing antibody-based programmes, including adimanebart, ARGX-121, efgartigimod, empasiprubart, and respective early-stage molecules.

Goldman Sachs International is acting arsenic exclusive fiscal advisor and Freshfields arsenic ineligible advisor to argenx. Guggenheim Securities is the exclusive fiscal advisor to Forte Biosciences, and Wilson Sonsini Goodrich & Rosati is serving arsenic ineligible counsel.

In July 2024, China's National Medical Products Administration (NMPA) approved Zai Lab and argenx's efgartigimod alfa subcutaneous injection (efgartigimod SC), 1,000mg (5.6ml)/vial for the attraction of generalised myasthenia gravis (gMG).

"argenx signs statement to bargain Forte Biosciences for $2.2bn" was primitively created and published by Pharmaceutical Technology, a GlobalData owned brand.