argenx agrees to buy Unnatural Products for up to $1.15bn for its AI-guided macrocyclic peptide platform
The deal is $550 million upfront in cash plus up to $595 million in development and regulatory milestones, and is expected to close by year-end.
Why it matters
Unnatural Products pairs AI-guided design with massively parallel synthesis and direct-to-biology screening to engineer macrocyclic peptides, which it says combine biologic-like precision with oral dosing and can reach intracellular targets. argenx, an antibody company that already held a minority stake after a two-year collaboration, says the platform opens oral and long-acting medicines. The Santa Cruz team stays in place as argenx's peptide discovery hub. Watch for closing and the first programmes argenx moves into the clinic.
Key facts
- $550 million upfront in cash
- Up to $595 million in milestones
- Total up to about $1.15 billion
- Close expected by year-end
- UNP stays in Santa Cruz, California