Forte Biosciences Raises $53 Million in Oversubscribed Private Placement to Advance FB102 for Autoimmune Conditions

In Dallas, Forte Biosciences, Inc., a clinical-stage biopharmaceutical company listed on NASDAQ as FBRX, has made a significant announcement. The company, which focuses on autoimmune and autoimmune-related diseases, has successfully secured $53 million through equity financing. This funding round attracted notable institutional investors such as OrbiMed, Janus Henderson Investors, Tybourne Capital Management, Alger, Ikarian Capital, LLC, BVF Partners LP, and The Red Hook Fund LP. The oversubscription of the financing round underscores the strong interest and confidence in Forte’s potential, particularly in advancing their therapeutic candidate, FB102.

Paul Wagner, Ph.D., the Chairman and CEO of Forte Biosciences, expressed gratitude towards both new and existing investors. He highlighted that this financial boost is transformative for the company, allowing them to continue developing FB102 across various autoimmune indications. Wagner also mentioned that the healthy volunteer study has been completed, and a trial for celiac disease is currently in progress, with a topline readout expected by the second quarter of 2025. Over the next year, Forte plans to expand the application of FB102 into additional indications, with 2025 anticipated to be a significant year for clinical milestones.

In addition to the financing announcement, Forte Biosciences will hold a Research and Development Day on December 3rd, where further details will be provided. The lead placement agent for the financing was TD Cowen, while Guggenheim Securities offered Capital Markets Advisory services. Chardan, Rodman & Renshaw, and Brookline Capital Markets also played roles as co-placement managers.

Forte Biosciences, Inc. is at the forefront of developing FB102, a proprietary anti-CD122 monoclonal antibody therapeutic candidate. This candidate has shown potential for broad applicability in treating autoimmune and autoimmune-related conditions.

The securities involved in this financing have not been registered under the Securities Act of 1933 or any relevant state securities laws. Hence, they cannot be offered or sold in the United States without registration or an exemption from registration requirements. Forte has committed to filing a registration statement with the U.S. Securities and Exchange Commission (SEC) to facilitate the resale of these securities by investors. Any future offering of Forte Biosciences’ common stock under this registration will be conducted via a prospectus.

This announcement does not serve as an offer to sell or solicit an offer to buy any securities of Forte Biosciences in jurisdictions where such actions would be illegal.