Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Exhibit 99.1
argenx to Acquire Unnatural Products,
Inc., Adding Peptide Discovery Engine to Broaden Immunology Capabilities
| · | Pairs Unnatural Products’ (UNP) peptide expertise with argenx's antibody engineering, expanding
the ways to target novel biology |
| · | Extends argenx’s immunology innovation to more patients, with the potential for oral and long-acting
medicines |
| · | Builds on more than two years of collaboration and investment; UNP to continue operating from Santa
Cruz, California with its current team, preserving the science-first culture behind its success |
Amsterdam,
the Netherlands, November 9, 2026, 07:00 CET – argenx (Euronext & Nasdaq: ARGX), the immunology innovation
company, today announced a definitive agreement to acquire Unnatural Products, Inc. (UNP), adding a macrocyclic peptide discovery engine
to its immunology innovation capabilities. argenx, which already holds a minority stake in UNP, will acquire all remaining shares in a
transaction valuing UNP at up to approximately $1.15 billion across upfront and milestone payments. This acquisition expands the ways
argenx can pursue novel biology and develop oral or long-acting medicines for people living with serious immune-mediated diseases.
“Our ambition is to be the leading immunology
innovation company, and as argenx builds its next chapter, we are investing with discipline where it will count the most for patients,”
said Karen Massey, Chief Executive Officer of argenx. “UNP adds macrocyclic peptide capabilities that are highly complementary to
our antibody engineering and creates new possibilities for oral and long-acting medicines. After working together for more than two years,
we also know there is a strong fit in how we work: science first, entrepreneurial and focused on patients. We want to preserve what has
made UNP successful while bringing the strengths of both teams together.”
“Today is a tremendous milestone for UNP
and a testament to the exceptional work of our scientists, employees, collaborators and supporters,” said Cameron Pye, Ph.D., CEO
and Co-Founder of UNP. “From the earliest days, we believed our platform had the potential to redefine what is possible in the discovery
and design of new medicines. I am so proud of what our team has accomplished and believe argenx provides the ideal environment to accelerate
and amplify that vision to bring innovative therapies to patients.”
Following closing of the acquisition, UNP’s
team and leadership will continue to operate from its Santa Cruz, California site, which will serve as argenx’s home for peptide
discovery. UNP will continue to lead its discovery work, within a strategic framework agreed upon with argenx. argenx will bring its clinical
development and commercialization capabilities to advance those medicines to patients.
Transaction Terms
Under the terms of the agreement, argenx will
acquire UNP for an upfront payment of $550 million in cash on hand and up to $595 million in payments contingent on achievement of specified
development and regulatory milestones, for total potential consideration of up to approximately $1.15 billion.
The boards of directors of both companies have
approved the transaction. The acquisition is expected to close by the end of the year, subject to customary closing conditions.
Advisors
Morgan Stanley & Co. LLC is serving as exclusive
financial advisor and DLA Piper LLP is serving as legal advisor to argenx. Latham & Watkins LLP is serving as legal counsel to UNP.
About argenx
argenx is the immunology innovation company, focused
on turning immunology breakthroughs into medicines for patients. The company seeks novel biology wherever it emerges, co-creating with
academic researchers through its Immunology Innovation Program (IIP) and investing in promising science, to develop treatments for people
living with underserved diseases. By advancing molecules with the potential to reach multiple diseases and patient populations, argenx
is building a world-class portfolio. This approach produced the first approved antibody fragment targeting the neonatal Fc receptor (FcRn)
and today powers a growing pipeline of early- and late-stage programs across several therapeutic areas. For more information, visit www.argenx.com
and follow us on LinkedIn, Instagram, Facebook, and YouTube.
About Unnatural Products, Inc.
Unnatural Products, Inc. (UNP), a Santa Cruz,
California-based biotech company, has developed a platform that addresses the complexities of medicinal chemistry in the macrocyclic peptide
space through a combination of parallel experimentation and machine learning. Founded by macrocycle pioneers whose academic work uncovered
how nature’s macrocycles work, UNP is developing a portfolio of therapeutic macrocycles against high-value and traditionally difficult-to-drug
targets.
This press release contains inside information
within the meaning of Article 7(1) of the EU Market Abuse Regulation (Regulation 596/2014).
Contacts:
Media:
Ben Petok
bpetok@argenx.com
Investors:
Alexandra Roy
aroy@argenx.com
Forward Looking Statements
The contents of this announcement include statements
that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements generally can be identified
by the use of forward-looking words, such as “believe”, “can”, “continue”, “expect”, “possible”,
“potential”, “seek”, “target”, “will”, “pursue” and other words and terms
of similar meaning and expression, including in connection with any discussion of future operating or financial performance. By their
nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements
are not guarantees of future performance. These statements are based on the current expectations, estimates and assumptions of the management
of argenx and UNP regarding future events, and on information currently available to them. If underlying assumptions prove inaccurate
or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations of argenx or UNP.
All statements contained in this press release
other than statements of historical fact are, or may be deemed to be, forward-looking statements, including, without limitation, statements
regarding the transaction and other related matters, including the expected timing of the closing of the transaction, the ability of the
parties to complete the transaction and to satisfy the conditions to its consummation, and the possibility of any termination of the definitive
agreement; the expected benefits and opportunities of the transaction, including the potential achievement of the development and regulatory
milestones and the making of any related contingent payments; the expected funding of the transaction; prospective performance and opportunities;
post-closing operations, the integration of UNP and the outlook for the businesses of UNP and argenx, including, without limitation, results
from clinical trials, regulatory applications and related timelines and the ability of argenx to advance UNP’s product pipeline;
and any assumptions underlying any of the foregoing.
Actual results may differ materially from those
predicted by the forward-looking statements as a result of various important factors, including but not limited to, uncertainties as to
the timing of the transaction; the risk that the transaction may not be completed in a timely manner or at all; the possibility that any
or all of the various conditions to the consummation of the transaction may not be satisfied or waived, including the failure to receive
any required regulatory approvals from any applicable governmental entities (or any conditions, limitations or restrictions placed on
such approvals); the occurrence of any event, change or other circumstance that could give rise to the termination of the definitive agreement;
the effect of the announcement or pendency of the transactions contemplated by the definitive agreement on argenx’s business; the
risk that the expected benefits and opportunities of the transaction, if completed, may not be realized or may take longer to realize
than expected; risks and uncertainties related to argenx’s ability to successfully integrate UNP’s programs, technologies,
employees and operations; the uncertainty of whether, when and to what extent the development and regulatory milestones will be achieved
and any related contingent payments will become payable; having to use cash in ways other than as expected; challenges inherent in product
research and development, including uncertainty of preclinical and clinical success and of obtaining regulatory approvals; and other risks
related to the businesses of argenx and UNP generally.
A further list and description of these and other
risks, uncertainties, and factors that could cause actual results to differ materially from those referred to in the forward-looking statements
can be found in argenx’s SEC filings and reports, including in argenx’s most recent annual report on Form 20-F filed with
the SEC as well as subsequent filings and reports filed by argenx with the SEC. Given these risks and uncertainties, the reader is advised
not to place undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication
of this press release. Neither argenx nor UNP undertakes any obligation to publicly update or revise the information in this press release,
including any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required
by law.
