On August 27, 2026 argenx (Euronext & Nasdaq: ARGX), a global immunology innovation company reported the successful completion of the acquisition of Forte Biosciences, Inc. ("Forte") (Nasdaq: FBRX).
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The acquisition expands argenx’s portfolio of differentiated immunology medicines, adding FB102, a first-in-class anti-CD122 antibody with clinical proof-of-concept in vitiligo and celiac disease and potential to address multiple autoimmune diseases. The acquisition reflects argenx’s disciplined approach to identifying and advancing breakthrough science for patients with the potential to redefine standards of care in diseases that have lacked meaningful innovation for decades.
"At argenx, we measure our progress through patient impact, and the Forte acquisition deepens that impact," said Karen Massey, Chief Executive Officer of argenx. "As we advance toward Vision 2030, our ambition is to build a pipeline that extends our reach for patients across immunology. FB102 does exactly that with a potential first-in-class molecule targeting diseases with few treatment options today. This acquisition marks an important step in our long-term strategy to be the leading immunology innovation company."
FB102 complements argenx’s existing portfolio of antibody-based programs, including efgartigimod, empasiprubart, adimanebart, and ARGX-121, as well as several additional early-stage molecules, by adding a mechanism focused on pathogenic T-cell and NK-cell activity, broadening the company’s ability to pursue diseases driven by different dimensions of the immune system.
Transaction details
argenx completed the cash tender offer, through a subsidiary, for all the outstanding shares of common stock of Forte at a purchase price of $77.00 per share, without interest and subject to any applicable tax withholding. As of the tender offer expiration at one minute after 11:59 p.m., Eastern Time, on August 26, 2026, 19,894,879 shares of Forte common stock were validly tendered and not validly withdrawn, representing, together with the shares owned by argenx and its affiliates, approximately 87.13% of the total number of Forte’s issued and outstanding shares of common stock as of such date and time. All such shares have been accepted for payment in accordance with the terms of the tender offer, and argenx, on behalf of its subsidiary, will promptly pay for such shares.
Following the completion of the tender offer, argenx completed the acquisition of Forte through a merger of argenx’s wholly owned subsidiary with and into Forte, with Forte being the surviving corporation, in which all shares of Forte common stock issued and outstanding at the effective time of the merger were converted into the right to receive cash equal to the $77.00 offer price per share, without interest and subject to any applicable tax withholding. At the completion of the merger, Forte became a wholly owned subsidiary of argenx and Forte’s common stock will no longer be listed or traded on the Nasdaq Capital Market.
About FB102
FB102 is a proprietary molecule with potentially broad autoimmune and autoimmune-related applications. In June 2025, Forte announced positive data from the FB102 celiac disease study. A Phase 2 celiac disease study has been initiated with data expected in the second half of 2026. Data from a vitiligo trial were reported in July 2026. A Phase 1b alopecia areata trial is ongoing with data expected in the second half of 2026.
(Press release, argenx, AUG 27, 2026, View Source [SID1234670410])