argenx to acquire Forte Biosciences for $2.2 billion in cash

argenx said it has agreed to acquire Forte Biosciences for $77 per share in cash, valuing the company at about $2.2 billion, in a deal that would add Forte’s lead anti-CD122 monoclonal antibody FB102 to its immunology pipeline. The companies said FB102 has shown Phase 1b proof-of-concept in vitiligo and celiac disease, with Forte recently reporting statistically significant treatment benefit in vitiligo and Phase 2 celiac disease data expected in the second half of 2026. Separately, Monteverde & Associates PC said it is investigating whether the proposed all-cash sale offers fair value to Forte shareholders. The transaction, approved by both boards, is expected to close in Q3 2026, subject to customary conditions including Hart-Scott-Rodino antitrust clearance and the tender of at least a majority of Forte’s outstanding shares.