argenx To Acquire Forte Biosciences In $2.2 Billion Deal To Expand Autoimmune Disease Pipeline

argenx, a global company focused on developing innovative immunology therapies, has announced a definitive agreement to acquire Forte Biosciences, Inc. in an all-cash transaction valued at approximately $2.2 billion. Under the terms of the agreement, argenx will pay $77 per share in cash for Forte Biosciences, further strengthening its pipeline of treatments for autoimmune diseases.

The acquisition is centred on FB102, Forte Biosciences’ lead investigational therapy, which will become part of argenx’s growing portfolio of immunology medicines. FB102 is a first-in-class anti-CD122 antibody that has already demonstrated encouraging clinical results in patients with vitiligo and celiac disease. The therapy also has the potential to be developed for several other autoimmune conditions, making it an important addition to argenx’s long-term research and development strategy.

Karen Massey, Chief Executive Officer of argenx, said the company continues to make strong progress under its Vision 2030 strategy through its research, development, and commercial capabilities. She explained that acquiring Forte Biosciences builds on this momentum and supports argenx’s ambition of becoming a global leader in immunology innovation. According to her, FB102 fits well within the company’s development strategy because it is based on strong scientific research, has demonstrated promising clinical results, and has the potential to address significant unmet medical needs. She also acknowledged the work of the Forte Biosciences team and expressed confidence that the combined expertise of both organisations will help accelerate the development of FB102 for patients worldwide.

Paul A. Wagner, Ph.D., Chief Executive Officer and Chairperson of the Board of Forte Biosciences, described argenx as the ideal partner to maximise the potential of FB102. He said the company has made significant progress in advancing the therapy through clinical development and believes that argenx’s extensive development experience, global infrastructure, and commercial capabilities will help bring the treatment to more patients. He added that the partnership creates an opportunity to accelerate the development of FB102 for conditions such as vitiligo, celiac disease, alopecia areata, and several other autoimmune disorders.

The acquisition follows encouraging clinical results generated by FB102 in recent studies. Forte Biosciences recently announced positive Phase 1b clinical trial data in vitiligo, where the therapy demonstrated a statistically significant treatment benefit. Earlier, the company also reported positive Phase 1b results in patients with celiac disease, with Phase 2 clinical trial results expected during the second half of the year. These successful studies played a major role in argenx’s decision to move beyond its initial strategic investment in Forte Biosciences and proceed with a full acquisition.

The promising data generated so far suggest that FB102 could have applications beyond its current development programmes. In addition to vitiligo and celiac disease, researchers believe the therapy may also be effective in treating alopecia areata and several other autoimmune diseases. This broad therapeutic potential positions FB102 as what the industry often describes as a "pipeline-in-a-product," meaning a single medicine with the possibility of addressing multiple diseases through the same underlying biological mechanism.

FB102 also complements argenx’s existing immunology portfolio by introducing a new mechanism of action. The therapy specifically targets pathogenic T cells and natural killer (NK) cells through the CD122 pathway, expanding the company's ability to develop treatments for immune-mediated diseases driven by different aspects of the immune system. It will join argenx’s growing portfolio of antibody-based therapies, including efgartigimod, empasiprubart, adimanebart, ARGX-121, and several early-stage investigational programmes.

With this acquisition, argenx further strengthens its position in the rapidly growing immunology market while expanding its pipeline of innovative therapies aimed at addressing autoimmune diseases with limited treatment options. The company expects the addition of FB102 to support its long-term strategy of developing first-in-class medicines capable of improving outcomes for patients living with complex immune-related conditions worldwide.