$FBRX ... Forte Biosciences: argenx to acquire Forte Biosciences for $2.2 bln (54.78)
argenx (ARGX) agreed to acquire Forte Biosciences for $77 per share in cash, valuing the company at approximately $2.2 bln. The transaction is expected to close in Q3 2026, subject to customary closing conditions.
The acquisition adds FB102, a first-in-class anti-CD122 antibody, to argenx's immunology pipeline. The therapy has shown positive Phase Ib results in vitiligo and celiac disease and has potential applications in additional autoimmune diseases.
The $77 per share offer represents an 86% premium to Forte's volume-weighted average share price since the company reported positive Phase Ib vitiligo data on July 9.
argenx said the acquisition will be funded entirely with cash on hand, is not subject to a financing condition, and expands its immunology portfolio with a differentiated approach targeting pathogenic T-cell and NK-cell activity.