STAT+: Argenx to buy Forte Biosciences for $2.2B

Andrew covers the biopharma industry, scientific research, and public health across the continent. You can reach Andrew confidentially on Signal at drewqjoseph.71.Argenx said Monday it would buy Forte Biosciences to expand its immunology pipeline, continuing the sector’s acquisition run, as even midsize companies hunt for pick-up targets. The deal, worth $2.2 billion in cash, values Dallas-based Forte at $77 per share, a 41% premium to the biotech’s closing price on Friday. Argenx, which has its main operations in Belgium, has become a top success story in immunology. Its drug Vyvgart, approved to treat the autoimmune diseases generalized myasthenia gravis and chronic inflammatory demyelinating polyneuropathy, has delivered steady sales increases as its label has been widened to cover more patients. STAT+ Exclusive Story Already have an account? Log in This article is exclusive to STAT+ subscribers Unlock this article — plus daily coverage and analysis of the biotech sector — by subscribing to STAT+. Already have an account? Log in View All Plans To read the rest of this story subscribe to STAT+. Subscribe