argenx to acquire Forte for $3.3 billion, securing immunology drug candidate

argenx will acquire Forte Biosciences for up to $2.2 billion, or approximately 3.3 trillion won. The deal represents $77 per share, a premium of approximately 41% over Friday’s closing price. The acquisition is intended to secure FB102, an antibody drug candidate targeting CD122, a protein that regulates multiple types of immune cells. The acquisition is expected to close during the third quarter, and argenx plans to obtain Phase 2 clinical data for FB102 in celiac disease and vitiligo by the end of this year.