Industry Daily Summary

Industry Daily Summary: What Happened on November 9, 2026

argenx agrees to buy Unnatural Products for up to $1.15 billion

The deal adds peptide discovery capabilities to argenx’s antibody research. Siemens Healthineers plans a diagnostics separation, and Labcorp has completed its Millennium Health acquisition.

Updated November 10, 00:02 UTC
Read from 6 articles, 6 publications
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Today in brief

argenx will pay $550 million upfront for Unnatural Products, with up to $595 million more tied to development and regulatory milestones.1 2 The acquisition gives argenx full ownership of its peptide-discovery partner, whose platform the company says could support oral or long-acting immune medicines.2 3

Siemens Healthineers plans to separate its in vitro diagnostics business as Olyrian Diagnostics, with completion expected by mid-2028.4 Labcorp completed its $375 million acquisition of Millennium Health, including a $245 million upfront payment.5

argenx takes full ownership of peptide discovery partner

argenx agreed to buy the remaining shares of Unnatural Products, in which it had invested and held a minority stake.1 2 The deal includes $550 million in cash at closing and up to $595 million in development and regulatory milestone payments, for a maximum stated value of about $1.15 billion.1 2

The companies began a multi-target research collaboration in July 2025, giving argenx options to develop and commercialize oral macrocyclic peptides against targets it selects.1 2 Macrocyclic peptides are ring-shaped molecules. Unnatural Products uses machine learning and experiments to design them.2 3

argenx said the platform complements its antibody engineering and could support oral or long-acting medicines for immune-mediated diseases.2 6 The company expects Unnatural Products’ team and leadership to remain in Santa Cruz, planned as argenx’s peptide-discovery hub.2 3 The acquisition is slated to close by the end of 2026, pending customary closing conditions.2 3

Also worth knowing

Siemens Healthineers plans to separate its in vitro diagnostics business as Olyrian Diagnostics, which will remain within Siemens Healthineers until the separation is expected to finish by mid-2028.4
Labcorp completed its $375 million purchase of Millennium Health, including $245 million upfront. The deal extends Labcorp’s drug-testing business geographically.5

Also published

Digital Health’s GLP-1 Strategy: “You Didn’t Come for the Drug. You Came for Health” MedCity News
The BioPharm Brief: argenx Bets on Peptides, a Two-Bispecific Regimen in Prostate Cancer, and a New Take on T-Cell Engagers BioPharm International
Argenx to buy peptide platform in potentially billion-dollar deal BioPharma Dive
Healthcare wants patients at the centre. So, why are they still outside the room? pharmaphorum
ASHG Notes: Myra Liquid Handler Omics! Omics!
argenx Acquires Unnatural Products Inc. to Expand Immunology Capabilities Pharmaceutical Executive
Biotech in Switzerland: 10 companies to watch in 2027 Labiotech
When Drug Pricing Collides With Politics Pharmaceutical Commerce
argenx agrees Unnatural takeover deal worth up to $1.15bn pharmaphorum
Moderna to relocate its UK HQ to London's Tribeca pharmaphorum
Find opportunity in a shifting life sciences market MedTech Dive
Making the ‘impossible’ executable in life sciences construction BioPharma Dive
State incentives for commercial-stage life sciences companies BioPharma Dive
Notable TechBio startups and companies operating in India 🇮🇳 (I) MetaphysicalCells

The day in numbers

$550 million

argenx’s upfront payment for Unnatural Products. 1 2
Up to $595 million

Additional payments tied to development and regulatory milestones. 1 2
Mid-2028

Expected timeframe for Siemens Healthineers’ diagnostics separation. 4
$375 million

Value of Labcorp’s completed acquisition of Millennium Health. 5