argenx SE is to expand its immunology portfolio with the acquisition of Forte Biosciences Inc of Dallas, Texas, US, whose lead product is being investigated in two autoimmune diseases. The Netherlands-based company is to pay $77 per share in cash for the company, representing an equity value of about $2.2 billion – it’s largest deal to date. Both companies are listed on the US Nasdaq exchange.
AstraZeneca reaffirmed its ambition to achieve revenue of $80 billion by 2030 after a second quarter that featured 12 regulatory approvals across four regions and five positive Phase 3 readouts. The positive trial results included one for a new antibody-drug conjugate, sonesitatug vedotin, that showed improved overall survival for patients with advanced gastric cancers.
Scribe Therapeutics Inc, a company co-founded by the Nobel laureate Jennifer Doudna, has raised $128.7 million in an initial public offering on the US Nasdaq market – one of a growing number of biotech companies to go public this year. The funds will be used to advance the company’s lead programme for patients with elevated low-density lipoprotein cholesterol (LDL-C) through Phase 1, and to develop two preclinical projects for cardiovascular and metabolic disorders.
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