Argenx agreed to acquire Unnatural Products (UNP) for up to $1.15 billion, expanding the company’s immunology capabilities and adding UNP’s macrocyclic peptide discovery platform. Argenx said the deal would move it from a minority stakeholder to full ownership and accelerate the discovery of oral or long-acting candidates for immune-mediated diseases. The transaction also builds on an earlier partnership centered on AI-guided compound design and massively parallel synthesis. Argenx’s stated goal is to broaden beyond its antibody franchise, including Vyvgart and Vyvgart Hytrulo, while extending its addressable target space using UNP’s “undruggable” focus.