{"success":true,"data":{"pressRelease":{"id":"98456","rtpr_id":"nGNX3lm2JH","ticker":"FBRX","exchange":"NASDAQ","all_tickers":["FBRX","ARGX"],"title":"argenx to Acquire Forte Biosciences, Inc., Adding First-in-Class anti-CD122 Antibody, FB102, to its Immunology Pipeline","author":"Globe Newswire","published_at":"2026-07-27T05:00:00.614Z","article_body":"* Transaction builds on argenx’s prior strategic investment in Forte\nBiosciences and reflects a disciplined approach to accessing novel biology\nthat can fuel long-term growth\n* FB102 Phase 1b studies in vitiligo and celiac disease validate CD122 biology\nand pipeline-in-a-product potential to address diseases with high unmet need\nthat have lacked innovation\n* Acquisition strengthens argenx’s innovative immunology portfolio with the\naddition of a differentiated approach to targeting pathogenic T-cell and\nNK-cell activity through CD122 biology\n* argenx will host an investor conference call today at 8:00 a.m. ET to\ndiscuss the transaction\nJuly 27, 2026 – 7:00 AM CET\n\nAmsterdam, the Netherlands and Dallas, Texas – argenx (Euronext & Nasdaq:\nARGX), a global immunology innovation company, and Forte Biosciences, Inc.\n(Nasdaq: FBRX) today announced that the companies have entered into a\ndefinitive agreement under which argenx will acquire Forte Biosciences for $77\nper share in cash, representing a total equity value of approximately $2.2\nbillion.\n\nFB102, Forte Biosciences’ lead program, expands argenx’s portfolio of\ndifferentiated immunology medicines, adding a first-in-class anti-CD122\nantibody with clinical proof-of-concept in vitiligo and celiac disease and\npotential to address multiple autoimmune diseases. The acquisition reflects\nargenx’s disciplined approach to identifying and advancing breakthrough\nscience for patients with the potential to redefine standards of care in\ndiseases that have lacked meaningful innovation for decades.\n\n“Our Vision 2030 strategy is well-defined and on track, and our discovery,\ndevelopment and commercialization engines are delivering real value for\npatients,” said Karen Massey, Chief Executive Officer of argenx. “The\nacquisition of Forte Biosciences builds on the strength of that foundation and\nadvances our ambition to be the leading immunology innovator of the future.\nThe addition of FB102 to our portfolio aligns perfectly with the argenx\nplaybook: compelling biology, strong clinical validation and broad potential\nto address patient need. I am grateful to the Forte Biosciences team for their\noutstanding work. Together, we look forward to unlocking the full potential of\nFB102 and accelerating its impact for patients.”\n\n“We are incredibly proud of what we have achieved in advancing FB102 through\nclinical development and firmly believe that argenx is the ideal strategic\npartner to unlock the full potential of this novel anti-CD122 antibody across\na broad range of autoimmune diseases,” said Paul A. Wagner, Ph.D., Chief\nExecutive Officer and Chairperson of the Board of Forte Biosciences. “By\ncombining FB102’s promising clinical profile with argenx’s proven\ndevelopment expertise, global reach and commercial capabilities, we have a\nunique opportunity to accelerate its development and maximize its impact for\npatients living with vitiligo, celiac disease, alopecia areata and other\nautoimmune conditions. We are excited about the future of FB102 and the\npotential to bring this innovative therapy to many more patients worldwide.”\n\nForte Biosciences recently reported positive Phase 1b data in vitiligo,\ndemonstrating statistically significant treatment benefit. In addition,\npositive FB102 Phase 1b data in celiac disease was shared last year, with\nPhase 2 data expected in the second half of this year. These studies were key\ndrivers of argenx’s decision to move from strategic investment to\nacquisition, providing clinical evidence in indications with significant unmet\nneed and limited treatment options. Beyond celiac disease and vitiligo, FB102\nhas the potential to address alopecia areata and additional autoimmune\ndiseases, supporting its profile as a potential pipeline-in-a-product\nopportunity.\n\nFB102 complements argenx’s existing portfolio of antibody-based programs,\nincluding efgartigimod, empasiprubart, adimanebart, and ARGX-121, as well as\nseveral additional early-stage molecules, by adding a mechanism focused on\npathogenic T-cell and NK-cell activity, broadening the company’s ability to\npursue diseases driven by different dimensions of the immune system.\n\nTransaction Terms\n\nUnder the terms of the merger agreement, argenx, through a wholly owned\nsubsidiary, will commence a cash tender offer to acquire all of the\noutstanding shares of Forte Biosciences’ common stock at a price of $77 per\nshare, representing a total equity value of approximately $2.2 billion and a\npremium of approximately 86% to Forte Biosciences’ volume-weighted average\nprice (VWAP) since reporting positive Phase 1b data in vitiligo on July 9,\n2026.\n\nThe consummation of the tender offer is subject to customary closing\nconditions, including the tender of at least a majority of the outstanding\nshares of Forte Biosciences, and the expiration or termination of the waiting\nperiod under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.\nFollowing the successful completion of the tender offer, a wholly owned\nsubsidiary of argenx will merge with Forte Biosciences and the outstanding\nForte Biosciences shares not tendered in the tender offer will be converted\ninto the right to receive the same $77 per share in cash paid in the tender\noffer. The transaction is not subject to a financing condition and will be\nfunded entirely from cash on hand.\n\nThe boards of directors of both companies have approved the transaction. The\nacquisition is expected to close in Q3 2026, subject to customary closing\nconditions.\n\nargenx Conference Call Details\n\nargenx will host an investor conference call and webcast today at 8:00 a.m. ET\nto discuss the transaction. A webcast of the conference call may be accessed\non the Investors section of the argenx website at argenx.com/investors\n(https://www.globenewswire.com/Tracker?data=3joYYNF_SthA_QC3He02kN4xrbGMk5HOOfTd9QxhiDvIHdfXKpVbdeU5kQ58Z_SjSy7e1uFH_Qy8M-A4QPPyQ8jR1ONbta1m1tacLniRoAKVhxNhgzvpNzd3hRPeklcU4HbcFWYHZDsFzYFARaamtTHW07RXDO3BGVSMt15z0G0ONm-OFE7Zby7kC9eZ34Sukofx9y6i0UbZ8Kk9XaQ5WKNpsee0nte1slswDYU1girieuoeLYQnasnkIBLELfYdAeh12hzIPdbrd9tLW33ZpCbB1ZR7uK5njCR3fUvePBGyBeJ8owfSaTj6XJRxBsTwQhJH040FWsFSyzCGrKlimSnXRLUZ3Xm5ybeGdOBIMNs1h22yqE923wDvwayzAqCUjkyMtjw49ImOUmYuyKBMrTLSGk-2n2vkCLLbvI1HDFzM3mGok7z13n72Kr5rWis78jRpprE1hUMvcVCqHcQ7Da0ZnX2u-f93KhTn6FzlzOlWIe2Q6J7kNkpIT-m8T-7z).\n\nParticipants can access the conference call by dialing 800-590-8290 (United\nStates and Canada) or 240-690-8800 (International). Country specific dial-in\nnumbers are listed below:\n\nBelgium                32 2290 4635\nFrance                        33 172 001717\nNetherlands                31 20 795 2683\nUnited Kingdom        44 203 393 1560\nJapan                        81 3 4520 9761\nSwitzerland                41 43 210 51 68\n\nUse the access code 3810049 to join the call. Please dial in 15 minutes prior\nto the live call. A replay of the webcast will be available on the argenx\nwebsite.\n\nAdvisors\n\nGoldman Sachs International is serving as exclusive financial advisor and\nFreshfields LLP is serving as legal advisor to argenx. Guggenheim Securities,\nLLC is serving as exclusive financial advisor and Wilson Sonsini Goodrich &\nRosati, P.C. is serving as legal counsel to Forte Biosciences.\n\nAbout argenx\nargenx is a global immunology innovation company committed to improving the\nlives of people suffering from severe autoimmune diseases. Partnering with\nleading academic researchers through its Immunology Innovation Program (IIP),\nargenx aims to translate immunology breakthroughs into a world-class portfolio\nof novel antibody-based medicines. argenx developed and is commercializing the\nfirst approved neonatal Fc receptor (FcRn) blocker and is evaluating its broad\npotential in multiple serious autoimmune diseases while advancing several\nearlier stage experimental medicines within its therapeutic franchises. For\nmore information, visit  www.argenx.com  and follow us 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Forte Biosciences, Inc.\n\nForte Biosciences, Inc. is a clinical-stage biopharmaceutical company that is\nadvancing FB102, which is a proprietary anti-CD122 monoclonal antibody\ntherapeutic candidate with potentially broad autoimmune and autoimmune-related\nindications.\n\nThis press release contains inside information within the meaning of Article\n7(1) of the EU Market Abuse Regulation (Regulation 596/2014).\n\nContacts\nMedia:\nBen Petok\nbpetok@argenx.com\n\nInvestors:\nAlexandra Roy\naroy@argenx.com\n\nImportant Information\n\nGoldman Sachs International, which is authorized by the Prudential Regulation\nAuthority and regulated by the Financial Conduct Authority and the Prudential\nRegulation Authority in the United Kingdom, is acting for argenx and no one\nelse in connection with the transaction and will not be responsible to anyone\nother than argenx for providing the protections afforded to clients of Goldman\nSachs International, or for giving advice in connection with the transaction\nor any matter referred to herein.\n\nAdditional Information and Where to Find It\n\nThe tender offer has not yet commenced. This document is for informational\npurposes only and is neither a recommendation, nor an offer to purchase nor a\nsolicitation of an offer to sell any securities of Forte Biosciences or any\nother entity, nor is it a substitute for any tender offer materials that\nargenx, Avena Merger Sub Inc. or Forte Biosciences will file with the U.S.\nSecurities and Exchange Commission (SEC). A solicitation and an offer to buy\nsecurities of Forte Biosciences will be made only pursuant to an offer to\npurchase and related materials that argenx and Avena Merger Sub Inc. intend to\nfile with the SEC. At the time the tender offer is commenced, argenx and Avena\nMerger Sub Inc. will file a Tender Offer Statement on Schedule TO, including\nan offer to purchase, a letter of transmittal and related documents, with the\nSEC, and Forte Biosciences thereafter will file a Solicitation/Recommendation\nStatement on Schedule 14D-9 with the SEC with respect to the tender offer.\nSECURITYHOLDERS AND OTHER INVESTORS ARE URGED TO READ THE TENDER OFFER\nMATERIALS (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND\nCERTAIN OTHER TENDER OFFER DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION\nSTATEMENT ON SCHEDULE 14D-9 REGARDING THE OFFER, AS THEY MAY BE AMENDED FROM\nTIME TO TIME, WHEN THEY BECOME AVAILABLE CAREFULLY AND IN THEIR ENTIRETY\nBECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION THAT INVESTORS AND\nSECURITYHOLDERS SHOULD READ CAREFULLY BEFORE ANY DECISION IS MADE WITH RESPECT\nTO THE TENDER OFFER. The offer to purchase, the related letter of transmittal\nand certain other tender offer documents, as well as the\nSolicitation/Recommendation Statement on Schedule 14D-9, will be sent to all\nstockholders of Forte Biosciences at no expense to them. The Tender Offer\nStatement on Schedule TO, the Solicitation/Recommendation Statement on\nSchedule 14D-9 and other related documents will be made available for free at\nthe SEC’s website at https://www.sec.gov/ and under the “SEC filings”\nsection of argenx’s investor relations website at\nhttps://argenx.com/investors/sec-filings. The Solicitation/Recommendation\nStatement on Schedule 14D-9 and other related documents that Forte Biosciences\nhas filed with or furnished to the SEC will be made available for free at the\nSEC’s website at https://www.sec.gov/ and under the “SEC Filings”\nsection of Forte Biosciences’ investor relations website at\nhttps://www.fortebiorx.com/investor-relations/sec-filings/default.aspx.\n\nForward Looking Statements of argenx and Forte Biosciences\n\nThe contents of this announcement include statements that are, or may be\ndeemed to be, “forward-looking statements.” These forward-looking\nstatements generally can be identified by the use of forward-looking words,\nsuch as “aim”, “anticipate”, “aspire”, “believe”, “can”,\n“continue”, “could”, “estimate”, “expect”, “entail”,\n“forecast”, “future”, “goals”, “hope”, “intend”, “is\ndesigned to”, “likely”, “may”, “might”, “objective”,\n“plan”, “possible”, “potential”, “pursue”, “project”,\n“predict”, “seek”, “should”, “strategy”, “target”,\n“will” and other words and terms of similar meaning and expression,\nincluding in connection with any discussion of future operating or financial\nperformance. By their nature, forward-looking statements involve risks and\nuncertainties and readers are cautioned that any such forward-looking\nstatements are not guarantees of future performance. Forward-looking\nstatements include, without limitation, statements regarding the tender offer,\nthe merger and other related matters; prospective performance and\nopportunities; post-closing operations and the outlook for the businesses of\nForte Biosciences and argenx, including, without limitation, results from\nclinical trials, regulatory applications and related timelines and the ability\nof argenx to advance Forte Biosciences’ product pipeline; and any\nassumptions underlying any of the foregoing. The companies’ actual results\nmay differ materially from those predicted by the forward-looking statements\nas a result of various important factors, including but not limited to,\nuncertainties as to the timing of the tender offer and the merger; the risk\nthat the tender offer or the merger may not be completed in a timely manner or\nat all; uncertainties as to the percentage of Forte Biosciences’\nstockholders tendering their shares in the tender offer; the possibility that\ncompeting offers or acquisition proposals for Forte Biosciences will be made;\nthe possibility that any or all of the various conditions to the consummation\nof the tender offer or the merger may not be satisfied or waived, including\nthe failure to receive any required regulatory approvals from any applicable\ngovernmental entities (or any conditions, limitations or restrictions placed\non such approvals); the occurrence of any event, change or other circumstance\nthat could give rise to the termination of the merger agreement, including in\ncircumstances that would require Forte Biosciences to pay a termination fee or\nother expenses; the effect of the announcement or pendency of the transactions\ncontemplated by the merger agreement on argenx’s business; the effect of the\nannouncement or pendency of the transactions contemplated by the merger\nagreement on Forte Biosciences’ business, its ability to retain and hire key\npersonnel, its ability to maintain relationships with its suppliers and others\nwith whom it does business, or its operating results and business generally;\nrisks related to diverting management’s attention from the companies’\nongoing business operations; the risk that stockholder litigation in\nconnection with the transactions contemplated by the merger agreement may\nresult in significant costs of defense, indemnification and liability.\n\nA further list and description of these and other risks, uncertainties, and\nfactors that could cause actual results to differ materially from those\nreferred to in the forward-looking statements can be found in argenx’s SEC\nfilings and reports, including in argenx’s most recent annual report on Form\n20-F filed with the SEC as well as subsequent filings and reports filed by\nargenx with the SEC and Forte Biosciences’ most recent Annual Report on Form\n10-K filed with the SEC as well as subsequent filings and reports filed by the\ncompanies with the SEC. Given these risks and uncertainties, the reader is\nadvised not to place undue reliance on such forward-looking statements. These\nforward-looking statements speak only as of the date of publication of this\npress release. Neither argenx nor Forte Biosciences undertake any obligation\nto publicly update or revise the information in this press release, including\nany forward-looking statements, except as may be required by law.\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/be37b058-e737-46dc-b05a-c2240f4da489)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX3lm2JH","title":"argenx to Acquire Forte Biosciences, Inc., Adding First-in-Class anti-CD122 Antibody, FB102, to its Immunology Pipeline","author":"Globe Newswire","ticker":"FBRX","created":"2026-07-27T05:00:00.614Z","tickers":["FBRX","ARGX"],"exchange":"NASDAQ","article_body":"* Transaction builds on argenx’s prior strategic investment in Forte\nBiosciences and reflects a disciplined approach to accessing novel biology\nthat can fuel long-term growth\n* FB102 Phase 1b studies in vitiligo and celiac disease validate CD122 biology\nand pipeline-in-a-product potential to address diseases with high unmet need\nthat have lacked innovation\n* Acquisition strengthens argenx’s innovative immunology portfolio with the\naddition of a differentiated approach to targeting pathogenic T-cell and\nNK-cell activity through CD122 biology\n* argenx will host an investor conference call today at 8:00 a.m. ET to\ndiscuss the transaction\nJuly 27, 2026 – 7:00 AM CET\n\nAmsterdam, the Netherlands and Dallas, Texas – argenx (Euronext & Nasdaq:\nARGX), a global immunology innovation company, and Forte Biosciences, Inc.\n(Nasdaq: FBRX) today announced that the companies have entered into a\ndefinitive agreement under which argenx will acquire Forte Biosciences for $77\nper share in cash, representing a total equity value of approximately $2.2\nbillion.\n\nFB102, Forte Biosciences’ lead program, expands argenx’s portfolio of\ndifferentiated immunology medicines, adding a first-in-class anti-CD122\nantibody with clinical proof-of-concept in vitiligo and celiac disease and\npotential to address multiple autoimmune diseases. The acquisition reflects\nargenx’s disciplined approach to identifying and advancing breakthrough\nscience for patients with the potential to redefine standards of care in\ndiseases that have lacked meaningful innovation for decades.\n\n“Our Vision 2030 strategy is well-defined and on track, and our discovery,\ndevelopment and commercialization engines are delivering real value for\npatients,” said Karen Massey, Chief Executive Officer of argenx. “The\nacquisition of Forte Biosciences builds on the strength of that foundation and\nadvances our ambition to be the leading immunology innovator of the future.\nThe addition of FB102 to our portfolio aligns perfectly with the argenx\nplaybook: compelling biology, strong clinical validation and broad potential\nto address patient need. I am grateful to the Forte Biosciences team for their\noutstanding work. Together, we look forward to unlocking the full potential of\nFB102 and accelerating its impact for patients.”\n\n“We are incredibly proud of what we have achieved in advancing FB102 through\nclinical development and firmly believe that argenx is the ideal strategic\npartner to unlock the full potential of this novel anti-CD122 antibody across\na broad range of autoimmune diseases,” said Paul A. Wagner, Ph.D., Chief\nExecutive Officer and Chairperson of the Board of Forte Biosciences. “By\ncombining FB102’s promising clinical profile with argenx’s proven\ndevelopment expertise, global reach and commercial capabilities, we have a\nunique opportunity to accelerate its development and maximize its impact for\npatients living with vitiligo, celiac disease, alopecia areata and other\nautoimmune conditions. We are excited about the future of FB102 and the\npotential to bring this innovative therapy to many more patients worldwide.”\n\nForte Biosciences recently reported positive Phase 1b data in vitiligo,\ndemonstrating statistically significant treatment benefit. In addition,\npositive FB102 Phase 1b data in celiac disease was shared last year, with\nPhase 2 data expected in the second half of this year. These studies were key\ndrivers of argenx’s decision to move from strategic investment to\nacquisition, providing clinical evidence in indications with significant unmet\nneed and limited treatment options. Beyond celiac disease and vitiligo, FB102\nhas the potential to address alopecia areata and additional autoimmune\ndiseases, supporting its profile as a potential pipeline-in-a-product\nopportunity.\n\nFB102 complements argenx’s existing portfolio of antibody-based programs,\nincluding efgartigimod, empasiprubart, adimanebart, and ARGX-121, as well as\nseveral additional early-stage molecules, by adding a mechanism focused on\npathogenic T-cell and NK-cell activity, broadening the company’s ability to\npursue diseases driven by different dimensions of the immune system.\n\nTransaction Terms\n\nUnder the terms of the merger agreement, argenx, through a wholly owned\nsubsidiary, will commence a cash tender offer to acquire all of the\noutstanding shares of Forte Biosciences’ common stock at a price of $77 per\nshare, representing a total equity value of approximately $2.2 billion and a\npremium of approximately 86% to Forte Biosciences’ volume-weighted average\nprice (VWAP) since reporting positive Phase 1b data in vitiligo on July 9,\n2026.\n\nThe consummation of the tender offer is subject to customary closing\nconditions, including the tender of at least a majority of the outstanding\nshares of Forte Biosciences, and the expiration or termination of the waiting\nperiod under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.\nFollowing the successful completion of the tender offer, a wholly owned\nsubsidiary of argenx will merge with Forte Biosciences and the outstanding\nForte Biosciences shares not tendered in the tender offer will be converted\ninto the right to receive the same $77 per share in cash paid in the tender\noffer. The transaction is not subject to a financing condition and will be\nfunded entirely from cash on hand.\n\nThe boards of directors of both companies have approved the transaction. The\nacquisition is expected to close in Q3 2026, subject to customary closing\nconditions.\n\nargenx Conference Call Details\n\nargenx will host an investor conference call and webcast today at 8:00 a.m. ET\nto discuss the transaction. A webcast of the conference call may be accessed\non the Investors section of the argenx website at argenx.com/investors\n(https://www.globenewswire.com/Tracker?data=3joYYNF_SthA_QC3He02kN4xrbGMk5HOOfTd9QxhiDvIHdfXKpVbdeU5kQ58Z_SjSy7e1uFH_Qy8M-A4QPPyQ8jR1ONbta1m1tacLniRoAKVhxNhgzvpNzd3hRPeklcU4HbcFWYHZDsFzYFARaamtTHW07RXDO3BGVSMt15z0G0ONm-OFE7Zby7kC9eZ34Sukofx9y6i0UbZ8Kk9XaQ5WKNpsee0nte1slswDYU1girieuoeLYQnasnkIBLELfYdAeh12hzIPdbrd9tLW33ZpCbB1ZR7uK5njCR3fUvePBGyBeJ8owfSaTj6XJRxBsTwQhJH040FWsFSyzCGrKlimSnXRLUZ3Xm5ybeGdOBIMNs1h22yqE923wDvwayzAqCUjkyMtjw49ImOUmYuyKBMrTLSGk-2n2vkCLLbvI1HDFzM3mGok7z13n72Kr5rWis78jRpprE1hUMvcVCqHcQ7Da0ZnX2u-f93KhTn6FzlzOlWIe2Q6J7kNkpIT-m8T-7z).\n\nParticipants can access the conference call by dialing 800-590-8290 (United\nStates and Canada) or 240-690-8800 (International). Country specific dial-in\nnumbers are listed below:\n\nBelgium                32 2290 4635\nFrance                        33 172 001717\nNetherlands                31 20 795 2683\nUnited Kingdom        44 203 393 1560\nJapan                        81 3 4520 9761\nSwitzerland                41 43 210 51 68\n\nUse the access code 3810049 to join the call. Please dial in 15 minutes prior\nto the live call. A replay of the webcast will be available on the argenx\nwebsite.\n\nAdvisors\n\nGoldman Sachs International is serving as exclusive financial advisor and\nFreshfields LLP is serving as legal advisor to argenx. Guggenheim Securities,\nLLC is serving as exclusive financial advisor and Wilson Sonsini Goodrich &\nRosati, P.C. is serving as legal counsel to Forte Biosciences.\n\nAbout argenx\nargenx is a global immunology innovation company committed to improving the\nlives of people suffering from severe autoimmune diseases. Partnering with\nleading academic researchers through its Immunology Innovation Program (IIP),\nargenx aims to translate immunology breakthroughs into a world-class portfolio\nof novel antibody-based medicines. argenx developed and is commercializing the\nfirst approved neonatal Fc receptor (FcRn) blocker and is evaluating its broad\npotential in multiple serious autoimmune diseases while advancing several\nearlier stage experimental medicines within its therapeutic franchises. For\nmore information, visit  www.argenx.com  and follow us 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Forte Biosciences, Inc.\n\nForte Biosciences, Inc. is a clinical-stage biopharmaceutical company that is\nadvancing FB102, which is a proprietary anti-CD122 monoclonal antibody\ntherapeutic candidate with potentially broad autoimmune and autoimmune-related\nindications.\n\nThis press release contains inside information within the meaning of Article\n7(1) of the EU Market Abuse Regulation (Regulation 596/2014).\n\nContacts\nMedia:\nBen Petok\nbpetok@argenx.com\n\nInvestors:\nAlexandra Roy\naroy@argenx.com\n\nImportant Information\n\nGoldman Sachs International, which is authorized by the Prudential Regulation\nAuthority and regulated by the Financial Conduct Authority and the Prudential\nRegulation Authority in the United Kingdom, is acting for argenx and no one\nelse in connection with the transaction and will not be responsible to anyone\nother than argenx for providing the protections afforded to clients of Goldman\nSachs International, or for giving advice in connection with the transaction\nor any matter referred to herein.\n\nAdditional Information and Where to Find It\n\nThe tender offer has not yet commenced. This document is for informational\npurposes only and is neither a recommendation, nor an offer to purchase nor a\nsolicitation of an offer to sell any securities of Forte Biosciences or any\nother entity, nor is it a substitute for any tender offer materials that\nargenx, Avena Merger Sub Inc. or Forte Biosciences will file with the U.S.\nSecurities and Exchange Commission (SEC). A solicitation and an offer to buy\nsecurities of Forte Biosciences will be made only pursuant to an offer to\npurchase and related materials that argenx and Avena Merger Sub Inc. intend to\nfile with the SEC. At the time the tender offer is commenced, argenx and Avena\nMerger Sub Inc. will file a Tender Offer Statement on Schedule TO, including\nan offer to purchase, a letter of transmittal and related documents, with the\nSEC, and Forte Biosciences thereafter will file a Solicitation/Recommendation\nStatement on Schedule 14D-9 with the SEC with respect to the tender offer.\nSECURITYHOLDERS AND OTHER INVESTORS ARE URGED TO READ THE TENDER OFFER\nMATERIALS (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND\nCERTAIN OTHER TENDER OFFER DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION\nSTATEMENT ON SCHEDULE 14D-9 REGARDING THE OFFER, AS THEY MAY BE AMENDED FROM\nTIME TO TIME, WHEN THEY BECOME AVAILABLE CAREFULLY AND IN THEIR ENTIRETY\nBECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION THAT INVESTORS AND\nSECURITYHOLDERS SHOULD READ CAREFULLY BEFORE ANY DECISION IS MADE WITH RESPECT\nTO THE TENDER OFFER. The offer to purchase, the related letter of transmittal\nand certain other tender offer documents, as well as the\nSolicitation/Recommendation Statement on Schedule 14D-9, will be sent to all\nstockholders of Forte Biosciences at no expense to them. The Tender Offer\nStatement on Schedule TO, the Solicitation/Recommendation Statement on\nSchedule 14D-9 and other related documents will be made available for free at\nthe SEC’s website at https://www.sec.gov/ and under the “SEC filings”\nsection of argenx’s investor relations website at\nhttps://argenx.com/investors/sec-filings. The Solicitation/Recommendation\nStatement on Schedule 14D-9 and other related documents that Forte Biosciences\nhas filed with or furnished to the SEC will be made available for free at the\nSEC’s website at https://www.sec.gov/ and under the “SEC Filings”\nsection of Forte Biosciences’ investor relations website at\nhttps://www.fortebiorx.com/investor-relations/sec-filings/default.aspx.\n\nForward Looking Statements of argenx and Forte Biosciences\n\nThe contents of this announcement include statements that are, or may be\ndeemed to be, “forward-looking statements.” These forward-looking\nstatements generally can be identified by the use of forward-looking words,\nsuch as “aim”, “anticipate”, “aspire”, “believe”, “can”,\n“continue”, “could”, “estimate”, “expect”, “entail”,\n“forecast”, “future”, “goals”, “hope”, “intend”, “is\ndesigned to”, “likely”, “may”, “might”, “objective”,\n“plan”, “possible”, “potential”, “pursue”, “project”,\n“predict”, “seek”, “should”, “strategy”, “target”,\n“will” and other words and terms of similar meaning and expression,\nincluding in connection with any discussion of future operating or financial\nperformance. By their nature, forward-looking statements involve risks and\nuncertainties and readers are cautioned that any such forward-looking\nstatements are not guarantees of future performance. Forward-looking\nstatements include, without limitation, statements regarding the tender offer,\nthe merger and other related matters; prospective performance and\nopportunities; post-closing operations and the outlook for the businesses of\nForte Biosciences and argenx, including, without limitation, results from\nclinical trials, regulatory applications and related timelines and the ability\nof argenx to advance Forte Biosciences’ product pipeline; and any\nassumptions underlying any of the foregoing. The companies’ actual results\nmay differ materially from those predicted by the forward-looking statements\nas a result of various important factors, including but not limited to,\nuncertainties as to the timing of the tender offer and the merger; the risk\nthat the tender offer or the merger may not be completed in a timely manner or\nat all; uncertainties as to the percentage of Forte Biosciences’\nstockholders tendering their shares in the tender offer; the possibility that\ncompeting offers or acquisition proposals for Forte Biosciences will be made;\nthe possibility that any or all of the various conditions to the consummation\nof the tender offer or the merger may not be satisfied or waived, including\nthe failure to receive any required regulatory approvals from any applicable\ngovernmental entities (or any conditions, limitations or restrictions placed\non such approvals); the occurrence of any event, change or other circumstance\nthat could give rise to the termination of the merger agreement, including in\ncircumstances that would require Forte Biosciences to pay a termination fee or\nother expenses; the effect of the announcement or pendency of the transactions\ncontemplated by the merger agreement on argenx’s business; the effect of the\nannouncement or pendency of the transactions contemplated by the merger\nagreement on Forte Biosciences’ business, its ability to retain and hire key\npersonnel, its ability to maintain relationships with its suppliers and others\nwith whom it does business, or its operating results and business generally;\nrisks related to diverting management’s attention from the companies’\nongoing business operations; the risk that stockholder litigation in\nconnection with the transactions contemplated by the merger agreement may\nresult in significant costs of defense, indemnification and liability.\n\nA further list and description of these and other risks, uncertainties, and\nfactors that could cause actual results to differ materially from those\nreferred to in the forward-looking statements can be found in argenx’s SEC\nfilings and reports, including in argenx’s most recent annual report on Form\n20-F filed with the SEC as well as subsequent filings and reports filed by\nargenx with the SEC and Forte Biosciences’ most recent Annual Report on Form\n10-K filed with the SEC as well as subsequent filings and reports filed by the\ncompanies with the SEC. Given these risks and uncertainties, the reader is\nadvised not to place undue reliance on such forward-looking statements. These\nforward-looking statements speak only as of the date of publication of this\npress release. Neither argenx nor Forte Biosciences undertake any obligation\nto publicly update or revise the information in this press release, including\nany forward-looking statements, except as may be required by law.\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/be37b058-e737-46dc-b05a-c2240f4da489)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-07-27T05:00:00.679543605Z","server_sent_at_ms":1785128400679},"received_at":"2026-07-27T05:00:00.732Z","source_url":null},"analysis":{"id":"87496","press_release_id":"98456","analysis_json":{"industry":{"label":"Biotechnology","sector":"Health Care"},"redFlags":[],"eventType":"m_and_a","narrative":"argenx has agreed to acquire Forte Biosciences for $77 per share in cash, representing a total equity value of approximately $2.2 billion and an 86% premium to the volume-weighted average price since July 9, 2026.\n\nThe transaction adds Forte's lead asset, FB102, a first-in-class anti-CD122 antibody with Phase 1b proof-of-concept in vitiligo and celiac disease, to argenx's immunology portfolio.\n\nThe deal, which is not subject to a financing condition and will be funded from cash on hand, is expected to close in the third quarter of 2026.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"FBRX surges on 86% premium buyout offer from argenx valued at $2.2 billion."},"keyFigures":{"drugName":"FB102","dealValueUsd":2200000000,"phaseOfTrial":"Phase 1b","offeringPrice":77,"customDimensions":{"premium":"86%"}},"quotedText":"The addition of FB102 to our portfolio aligns perfectly with the argenx playbook: compelling biology, strong clinical validation and broad potential to address patient need.","namedEntities":{"people":[{"name":"Karen Massey","role":"CEO of argenx"},{"name":"Paul A. 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