argenx completes acquisition of Forte Biosciences

argenx announced on August 27, 2026 that it had completed its acquisition of Forte Biosciences, Inc. The transaction adds the first-in-class anti-CD122 antibody FB102 to argenx's immunology pipeline.¹

FB102 is described as a first-in-class anti-CD122 antibody that has shown clinical proof-of-concept in vitiligo and celiac disease, with potential application across multiple autoimmune diseases.¹ The company said FB102 will complement argenx's existing antibody portfolio, which includes efgartigimod, empasiprubart, adimanebart, ARGX-121, and several earlier-stage molecules, by adding a mechanism aimed at pathogenic T-cell and NK-cell activity.¹

On the deal terms, argenx, through a subsidiary, carried out a cash tender offer for all outstanding Forte shares, paying $77.00 per share in cash, with no interest and subject to applicable tax withholding.¹ By the time the offer expired one minute after 11:59 p.m. Eastern Time on August 26, 2026, holders had tendered 19,894,879 Forte shares without withdrawing them, which combined with shares already held by argenx and its affiliates came to about 87.13% of Forte's outstanding common stock.¹ All tendered shares were accepted for payment, and argenx said it would promptly pay for them through its subsidiary.¹

argenx then completed the acquisition through a merger of its subsidiary into Forte, with Forte surviving as a wholly owned subsidiary of argenx; remaining Forte shares were converted into the right to receive the same $77.00 per share cash price, and Forte's stock will no longer trade on Nasdaq.¹

On the pipeline timeline, Forte reported positive data from an FB102 celiac disease study in June 2025, and a Phase 2 celiac study is underway with data expected in the second half of 2026.¹ Vitiligo trial data were reported in July 2026, and a Phase 1b alopecia areata trial is ongoing, with data also expected in the second half of 2026.¹