argenx acquires Forte Biosciences, adds anti‑CD122 antibody FB102

Deal terms

argenx completed a cash tender offer for all outstanding shares of Forte at $77.00 per share; 19,894,879 shares were validly tendered and accepted, representing approximately 87.13% of Forte’s issued and outstanding shares as of the offer’s expiration. argenx then completed a merger of its subsidiary with and into Forte, converting remaining shares into the right to receive $77.00 per share in cash. At closing, 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.

FB102 clinical status

FB102 is a proprietary anti‑CD122 monoclonal antibody described as first‑in‑class with clinical proof‑of‑concept in vitiligo and celiac disease. Forte reported positive celiac data in June 2025; a Phase 2 celiac study has been initiated with data expected in the second half of 2026. 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.

Strategic fit

The acquisition adds a mechanism targeting pathogenic T‑cell and NK‑cell activity to argenx’s antibody‑based portfolio, complementing existing programs including efgartigimod, empasiprubart, adimanebart and ARGX‑121 and broadening the company’s reach across immunology indications driven by different immune system dimensions.