Immunology innovation company argenx (Euronext & Nasdaq: ARGX) disclosed on Monday that it has entered into a definitive agreement to acquire biopharmaceutical company Forte Biosciences Inc (Nasdaq: FBRX) for USD77 per share in cash, representing an equity value of approximately USD2.2bn. The acquisition will add Forte's lead programme FB102, a first-in-class anti-CD122 antibody, to argenx's immunology pipeline.

FB102 has demonstrated clinical proof-of-concept in vitiligo and celiac disease, with Phase 1b studies supporting its potential as a pipeline-in-a-product opportunity across autoimmune diseases including alopecia areata. The therapy targets pathogenic T-cell and natural killer cell activity through CD122 biology, complementing argenx's existing antibody-based immunology portfolio.

The transaction has been approved by both companies' boards and is expected to close in Q3 2026, subject to customary conditions. argenx said the acquisition reflects its strategy of accessing novel biology to support long-term growth and expand treatments for diseases with significant unmet need.