Dallas-based biopharmaceutical company Forte Biosciences Inc. has been acquired by Netherlands pharmaceutical company Argenx for $2.2 billion, the companies announced. Argenx CEO Karen Massey said in a statement that Forte’s experimental drug FB102 will add to the company’s ambition of being the “leading immunology innovator of the future.”
From Dallas startup to acquisition target
Forte was founded in 2017 by Paul A. Wagner, who serves as the company’s chairman and CEO. The company raised $150 million in a public stock offering in April, after reporting a loss of $69 million in 2025.
In an early-stage clinical trial earlier this month, FB102 showed positive results in treating vitiligo. The autoimmune disease causes depigmentation, or white patches, on a patient’s skin.
The drug also showed positive results in a clinical trial last year for treatment of celiac disease. The autoimmune condition causes the body’s immune system to attack gluten in the digestive tract. That reaction leads to inflammation and damage in the small intestine.
What the companies are saying
“We are incredibly proud of what we have achieved in advancing FB102 through clinical development and firmly believe that Argenx is the ideal strategic partner to unlock the full potential of this novel anti-CD122 antibody across a broad range of autoimmune diseases,” Wagner said in a statement.
Argenx says FB102 has the “potential to address multiple autoimmune diseases” and fits with its approach of advancing treatments for diseases “that have lacked meaningful innovation for decades.”
The drug “complements Argenx’s existing portfolio” of antibody-based programs, which includes autoimmune drug Vyvgart.
“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,” Massey said.
Both companies’ boards of directors have approved the deal, which is expected to close in the third quarter.
More on Forte Biosciences
Forte, headquartered at Dallas’ Pegasus Park, announced a $53 million private placement from leading healthcare investors in November 2024 to support FB102’s continued clinical development.
Don’t miss what’s next. Subscribe to Dallas Innovates.
Track Dallas-Fort Worth’s business and innovation landscape with our curated news in your inbox Tuesday-Thursday.
R E A D N E X T
-
As chairman, outgoing CEO Ken Pedersen will concentrate on board leadership and overall strategy while incoming CEO Kyle Carter and the executive team oversee day-to-day operations, the Dallas- based company said. Carter has been with Zenylitics since its founding, providing leadership in customer acquisition, client delivery, and the development of the company's capabilities in India.
-
With a background in U.S. intelligence, Joel Molinoff recently served as global head of third-party risk products and services at BlueVoyant, where he guided the development and growth of the company’s third-party risk management business serving commercial and government clients around the world, Dallas-based iCOUNTER said.
-
Located in Trammell Crow Center, Equiton's new office was "carefully selected for its location in one of America's premier financial hubs," where some of the nation's leading financial institutions have established major operations serving clients across the country, the firm said.
-
Founded in 2000 with offices in Las Colinas and Mexico City, Legion Advertising has developed a strong track record of helping brands connect authentically with diverse audiences—particularly within the U.S. Hispanic market. Now it will do that with Fernando Sánchez Servitje at the helm.
-
Fortium's acquisition brings a leading player in the interim technology market into ZRG's platform and gives clients access to proven CIO, CTO, and CISO leadership on demand.
-
With its proposed acquisition of Dallas Capital Bank, MidFirst—the nation's largest privately owned bank—is adding to a growing Texas footprint which already includes banking locations in Dallas, San Antonio, and Houston.
