Argenx SE said it has completed the acquisition of Forte Biosciences Inc. through a cash tender offer valuing each Forte share at $77, a deal worth approximately $1.53 billion based on the 19.89 million shares tendered.
The tender offer, which closed on Tuesday, secured acceptance from roughly 87.1% of Forte’s outstanding shares, allowing argenx to merge the company and delist Forte’s stock from the Nasdaq Capital Market. Forte’s shares had previously traded under the ticker FBRX.
The transaction brings FB102, an anti-CD122 antibody designed to modulate pathogenic T-cell and NK-cell activity, into argenx’s pipeline. Forte had reported positive Phase 2 data for celiac disease in June 2025, and argenx expects further results from a Phase 2 celiac study and a Phase 1b alopecia areata trial in the second half of 2026. Vitiligo trial data were reported in July 2026.
Karen Massey, CEO of argenx, said the acquisition aligns with the company’s focus on patient impact, adding FB102 to a portfolio that includes efgartigimod, empasiprubart, adimanebart and ARGX-121.
