Argenx NV ADR (NASDAQ:ARGX) has agreed to acquire Forte Biosciences Inc (NASDAQ:FBRX) in a transaction valued at approximately $2.2 billion, expanding its portfolio of autoimmune disease treatments as it looks to build new growth opportunities beyond its flagship medicine, Vyvgart.
Under the agreement announced on Monday, the Dutch biotechnology company will purchase the Dallas-based biotech firm for $77 per share in cash, representing a premium of around 40% over Forte’s closing share price on Friday.
Deal adds late-stage autoimmune therapy
Argenx said the acquisition will add a clinical-stage treatment currently being developed for vitiligo and celiac disease, while also offering potential use across a wider range of autoimmune conditions.
The company believes the addition will further strengthen its research pipeline and support its long-term strategy of expanding its immunology portfolio.
Pipeline expansion follows Vyvgart success
Vyvgart has become Argenx’s leading commercial product, helping establish the company as one of Europe’s fastest-growing biotechnology businesses through approvals in multiple autoimmune diseases.
Strong demand for the therapy contributed to better-than-expected second-quarter financial results, although the acquisition of Forte reflects Argenx’s efforts to diversify future revenue sources and reduce reliance on a single product.
The move also comes after the company ended a late-stage clinical trial evaluating Vyvgart as a treatment for an eye disease late last year.
Despite that setback, Argenx shares have gained more than 57% over the past 12 months, while Forte Biosciences’ stock has risen more than fourfold during the same period.
Transaction expected to close in the third quarter
The boards of directors of both Argenx and Forte Biosciences have unanimously approved the acquisition.
Subject to customary closing conditions, the companies expect the transaction to be completed during the third quarter of 2026.
Argenx stock price
Forte Biosciences stock price
