The US Open is one of the best events New York hosts every year. I love the intensity on the court and the atmosphere off it. And while the singles champions were no surprise, you may have seen an unfamiliar sponsor on the side of the court — Argenx.
So in this edition, I want to take a closer look at the biotech behind the sign and ask the question—is Argenx for real?
Founded in Belgium in 2008 and listed on Nasdaq in 2017, Argenx is one of Europe’s most valuable biotechs, largely thanks to its flagship drug, Vyvgart.
Vyvgart’s lead indication is generalized myasthenia gravis (gMG), a rare autoimmune disease where the body’s own antibodies interfere with communication between nerves and muscles. The result is debilitating weakness that can make everyday tasks like walking, holding up your head, or even breathing exhausting and sometimes life-threatening. About 85 percent of people with myasthenia gravis eventually develop the generalized form, and most are positive for the AChR antibody that Vyvgart targets.
At the core of gMG is a problem with the acetylcholine receptor (AChR). Normally, when you want to move a muscle, your nerves release a chemical signal called acetylcholine. This binds to the AChR on the surface of muscle cells, like a lock-and-key mechanism, which triggers the muscle fiber to contract.
In gMG, the immune system makes autoantibodies against these receptors. Instead of helping, these antibodies block or destroy the AChRs, disrupting nerve-to-muscle communication. The effect is profound: muscles do not respond properly, leading to weakness that worsens with activity. That is why people with gMG often struggle to keep their eyelids open, speak clearly, or even breathe after repeated effort. The receptors simply are not available to pass on the nerve’s signal.
This is where Vyvgart comes in. Instead of trying to replace or repair the receptors directly, Vyvgart works upstream. It binds to and blocks a protein called the neonatal Fc receptor (FcRn), which normally recycles IgG antibodies in the body. By turning off this recycling system, Vyvgart causes harmful autoantibodies, including those that target AChRs, to be broken down faster. With fewer antibodies in circulation, more acetylcholine can bind to the receptor, and muscles can function more normally again.
So why did Argenx sponsor the US Open now?
Argenx’s breakthrough moment came in December 2021, when the FDA approved intravenous Vyvgart as the first FcRn blocker for adults with gMG. This was the company’s entry into the big leagues, a first-in-class drug with blockbuster potential.
Building on that success, Argenx pushed to make treatment faster and more patient-friendly. In June 2023, the FDA approved Vyvgart Hytrulo, a subcutaneous injection that combined efgartigimod with Halozyme’s ENHANZE technology. Instead of hours in an infusion chair, patients could now get the drug in minutes.
Then in April 2025, the FDA went a step further, approving the Vyvgart Hytrulo prefilled syringe for self-injection. This new format gives patients true flexibility: treatment at home, while traveling, or still in clinic if they prefer.
Together, these three approvals turned Vyvgart from a single IV drug into a franchise with multiple delivery formats. For patients, it means less time tied to the clinic. For Argenx, it means deeper market penetration, stronger brand loyalty, and insulation against competitors. It is a strategy not just to treat a disease, but to build a platform.
Which is why everything culminated in Argenx having its moment at the US Open this year.
To amplify the message, Argenx teamed up with tennis legend Monica Seles, who for the first time publicly shared her own diagnosis with myasthenia gravis. Through the “Go for Greater” campaign, launched at the 2025 US Open, Seles is using her story to raise awareness, empower patients to advocate for themselves, and connect the MG community with resources.
As Seles put it, living with MG can be isolating and defeating, but sharing her journey is a way to inspire others to rally against the disease and pursue their goals. For Argenx, partnering with a nine-time Grand Slam champion at one of tennis’s biggest stages gave them not just visibility, but credibility, showing the human side of the science that built the company.
Argenx’s rise has not just been scientific but financial. Since its Nasdaq debut in 2017, the company’s stock has dramatically outperformed the XBI biotech index, rewarding early believers and cementing its reputation as one of Europe’s crown-jewel biotech firms. Just this year, the stock has climbed approximately 38.5%, underscoring growing investor conviction as Vyvgart transitions from novel breakthrough to treatment franchise
Between first-in-class science, patient-friendly formats, and a global spotlight at the US Open, Argenx has shown it belongs centre court. The real question now is whether it can keep building beyond Vyvgart.
Here is what I am into:
What got me thinking
This week I’ve been reading about the shutdown of Streameast, the world’s largest illegal sports streaming site. I don’t condone piracy, but the platform drew 1.6 billion visits last year, which shows how much demand there was. It was a massively profitable operation, with millions laundered through shell companies and even real estate purchases. The fact it grew this big says less about piracy and more about how broken and fragmented the official sports streaming experience has become.
What is not reported enough about
STAT has a powerful piece on Sarepta’s sudden decision to walk away from its gene therapy programs for limb-girdle muscular dystrophy. For families who had been waiting years, the promise of a treatment vanished overnight. It shows just how fragile rare disease drug development can be, especially under pressure from the current administration as regulators reevaluate their stance on gene therapy safety. The result is a community left behind, while the industry recalibrates its appetite for risk.
What got me inspired
Since we’re on the topic of the US Open, I listened to Novak Djokovic’s recent appearance on the Jay Shetty Podcast. It was a surprisingly intimate conversation that went well beyond tennis, offering a rare glimpse into the mindset of a champion who sees his greatest opponent as himself. Djokovic spoke about journaling and visualization from a young age, his struggles with emotional vulnerability, and the pain of his 2017 elbow surgery, which he once saw as a personal failure. His raw honesty shows that even at the pinnacle of success, self-doubt and pressure remain constant battles, and his resilience comes from continuous emotional work and a purpose that stretches beyond the court. And yet, the same guy who can talk with such depth about vulnerability and regulation can also be found on TikTok doing this.
Thanks for joining me. See you in two weeks. For thoughts, comments or feedback, you can reach me at [email protected]
Yours truly,
Gad