Argenx agreed to acquire Forte Biosciences in a $2.2 billion all-cash deal, paying $77 per share for the Dallas-based autoimmune specialist. The transaction adds Forte’s lead asset FB102, an anti-CD122 monoclonal antibody, to Argenx’s portfolio as the company pushes further into broad immune-mediated disorders. FB102’s clinical profile includes Phase Ib data in facial vitiligo showing a 29.6% improvement in a facial vitiligo score and earlier positive readouts in celiac disease, with additional Phase II results expected in 2H26. Argenx said those signals were key drivers for moving from strategic investment to acquisition. The deal is expected to close in Q3, subject to regulatory clearance and tender conditions. Argenx will fund the tender offer entirely from cash on hand, positioning FB102 for “pipeline-in-a-product” scaling across vitiligo, celiac disease, alopecia areata and other autoimmune conditions.