Pharma BD Deal Intelligence

argenx SE / Unnatural Products, Inc.

2026 · Acquisition/Merger · $1.1B · Pending

argenx SE agreed to acquire Unnatural Products, Inc., a Santa Cruz, California-based discovery company developing orally delivered macrocyclic peptides, for $550 million upfront plus contingent value rights tied to development and regulatory milestones, for total potential consideration of up to approximately $1.15 billion. Unnatural Products' platform pairs AI-guided design with parallel synthesis and direct-to-biology screening, and the acquisition builds on a two-year multi-target research collaboration between the two companies. The Santa Cruz site will continue to operate as part of argenx's global research organization. Closing is expected by the end of 2026.

Key facts

• Announced Nov 09, 2026
• Deal value $1.1B
• Deal type Acquisition/Merger

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