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argenx to acquire Forte Biosciences for about $2.2bn
The deal values Forte Biosciences at $77 per share and will fund a cash tender offer entirely from argenx cash on hand.
argenx has entered a definitive agreement to acquire Forte Biosciences for approximately $2.2 billion in total equity value, after both companies' boards approved the transaction, according to Yahoo Finance.
The acquisition will bring Forte Biosciences' lead asset, FB102, an anti-CD122 antibody, into argenx's immunology portfolio. FB102 was evaluated in Phase Ib studies for vitiligo and celiac disease, and Forte Biosciences plans to release Phase II data for FB102 in the second half of 2026.
Under the agreement, argenx will start a cash tender offer through a wholly owned subsidiary to buy all outstanding Forte Biosciences common shares at $77 per share. The offer represents a premium of around 86.0% versus the company’s volume-weighted average price since the July 9 announcement of positive Phase Ib trial data for vitiligo.
The transaction is expected to close in the third quarter of 2026, subject to standard closing conditions including tendering of a majority of outstanding Forte Biosciences shares and the expiration of applicable regulatory waiting periods. Yahoo Finance reports the deal will be funded entirely from argenx cash on hand, without financing conditions.