News Article

Dutch-Belgian immunology group argenx SE has entered a definitive agreement to acquire US-based biopharma group Forte Biosciences in an all-cash transaction valued at approximately $2.2bn.

This deal, the largest in the history of the Euronext-listed firm, marks a significant pivot as argenx seeks to diversify its portfolio beyond its flagship blockbuster treatment, Vyvgart.

Under the terms of the agreement, argenx will launch a cash tender offer to acquire all outstanding shares of Forte for $77 per share –  a substantial 86% premium to Forte’s volume-weighted average price since the company reported positive clinical results earlier in July 2026.

The centrepiece of the acquisition is FB102, a first-in-class anti-CD122 monoclonal antibody designed to target pathogenic T-cell and natural killer cell activity. The asset has already demonstrated clinical proof of concept in vitiligo and coeliac disease, two conditions with significant unmet medical needs and limited innovative treatment options in European markets.

Argenx Chief Executive Officer Karen Massey stated that the addition of FB102 aligns perfectly with the company’s Vision 2030 strategy, which focuses on accessing novel biology to fuel long-term growth and leadership in immunology. This move allows argenx to move from a single-product company to a multi-asset innovator, addressing more prevalent autoimmune conditions rather than solely focusing on rare inflammatory disorders.