Argenx Acquires Unnatural Products for Up to $1.15 Billion

Argenx SE announced the acquisition of biotech firm Unnatural Products on Monday for an upfront payment of $550 million. The deal includes contingent value rights linked to regulatory and development milestones, which could increase the total transaction value to approximately $1.15 billion.

The acquisition follows a two-year research collaboration between the two companies. Unnatural Products specializes in a discovery platform for orally-delivered macrocyclic peptides, utilizing parallel synthesis and AI-guided design to reach intracellular targets. Argenx intends to use these capabilities to complement its existing antibody engineering.

The transaction is expected to close by the end of the year. Once finalized, Unnatural Products will operate as part of the Argenx global research organization, maintaining its current site in Santa Cruz, California.