Argenx enters biotech buyer class with $2.2B Forte takeout

Argenx’s $2.2 billion purchase of Forte Biosciences marks the biotech’s arrival as a large-cap buyer, using the financial strength created by Vyvgart to acquire another potential multi-indication growth engine.

The transaction, which argenx will fund entirely from cash on hand, is the latest example of a “tier-jumping” biotech — one that has grown from an early-stage venture into a large-cap commercial company — acting as the buyer in a 10-figure M&A deal. Argenx ended June with $5.2 billion in cash and financial assets...