argenx acquires Unnatural Products for $1.15 billion
By Jon CuthbertKey points
- argenx has agreed to acquire the remaining shares of Unnatural Products, adding peptide discovery capabilities to its immunology research platform.
- The deal includes $550 million upfront and up to $595 million in development and regulatory milestone payments, bringing potential consideration to approximately $1.15 billion.
- argenx aims to combine Unnatural Products' macrocyclic peptide technology with its antibody engineering to develop potential oral and long-acting medicines.
argenx (NASDAQ:ARGX) has agreed to acquire the remaining shares of Unnatural Products in a deal worth up to approximately $1.15 billion, expanding its drug discovery capabilities.
The transaction includes $550 million in upfront cash consideration and up to $595 million in additional payments tied to development and regulatory milestones, funded through cash on hand.
argenx said the acquisition will combine Unnatural Products' macrocyclic peptide discovery technology with its antibody engineering capabilities to explore new treatment options.
Both companies' boards have approved the agreement, with argenx expecting the transaction to close by the end of 2026, subject to customary closing conditions.
Following completion, Unnatural Products' existing team and leadership will remain in Santa Cruz, California, and lead discovery activities under an agreed framework, while argenx will oversee clinical development and commercialization.
The acquisition builds on argenx's existing minority investment in Unnatural Products and expands its research platform beyond antibody-based approaches to include macrocyclic peptides, which are ring-shaped molecules.
argenx develops treatments for autoimmune diseases and other serious conditions, using antibody engineering and research partnerships to expand its pipeline of potential medicines.
