Dutch biotechnology company argenx agreed to buy the remaining shares in Unnatural Products, its peptide discovery partner. The deal includes 550 million dollars upfront and up to 595 million dollars tied to development and regulatory milestones. The acquisition would add peptide research capabilities to the buyer’s antibody work, building on more than two years of collaboration.
Dutch biotechnology company argenx agreed to acquire the remaining shares of Unnatural Products, a peptide discovery business in which it already owns a minority stake.[1], [2]
The deal sets an upfront payment of 550 million dollars. Development and regulatory milestones can trigger up to 595 million dollars more, taking potential consideration to approximately 1.15 billion dollars.[1]
The companies have worked and invested together for more than two years. argenx plans to combine its antibody engineering capabilities with its partner’s macrocyclic peptide discovery platform. Unnatural Products says that platform brings parallel experimentation and machine learning into medicinal chemistry. The buyer describes oral and long-acting medicines as research objectives for the combined capabilities.[1]
Both boards approved the agreement. argenx plans to use cash on hand for the upfront payment and expects closing by year-end, subject to customary conditions. After closing, the Unnatural Products team and management are expected to continue working in Santa Cruz, California. That site is intended to house peptide discovery, with argenx providing clinical development and commercialization capabilities.[1]
