Argenx to Acquire Forte Biosciences for $2.2 Billion to Bolster Immunology Pipeline

Argenx (NASDAQ:ARGX) has agreed to acquire Forte Biosciences (NASDAQ:FBRX) in an all-cash deal valued at approximately $2.2 billion, a strategic move designed to expand its immunology pipeline and reduce its reliance on the blockbuster drug Vyvgart.

The Acquisition Terms

Under the terms of the agreement announced Monday, the Dutch biotechnology firm will pay $77 per share for the Dallas-based Forte Biosciences. This price represents a significant premium of roughly 40% over Forte's closing stock price on the preceding Friday.

The boards of directors of both companies have unanimously approved the transaction. The deal is expected to close in the third quarter of 2026, pending customary closing conditions.

Strategic Rationale

The acquisition provides Argenx with a promising clinical-stage therapy targeting vitiligo and celiac disease, which the company noted has potential applications across a wider range of autoimmune disorders. This move is a key part of Argenx's strategy to secure long-term growth drivers and diversify its product portfolio.

Ad

While Argenx's primary drug, Vyvgart, has propelled the company's growth with approvals for several autoimmune conditions, this deal helps mitigate risk. The need for diversification was highlighted by a setback late last year when Argenx discontinued a late-stage study of Vyvgart for a specific eye disease.

Market Context

Vyvgart's commercial success has transformed Argenx into one of Europe's fastest-growing biotech firms, a factor reflected in its stock performance. Argenx shares have climbed more than 57% over the past year.

Forte Biosciences has also seen remarkable growth, with its stock surging more than fourfold over the same period. The acquisition allows Argenx to leverage its strong market position to absorb a high-growth asset and further solidify its leadership in the immunology space.