Argenx agreed to acquire Forte Biosciences for about $2.2 billion, adding FB102, an anti-CD122 monoclonal antibody, as a potential pipeline-in-a-product. The proposed deal follows Forte’s reported Phase Ib signal in vitiligo, where FB102 achieved a 29.6% mean Facial Vitiligo Area Scoring Index improvement at week 24 versus baseline, with statistically significant improvements reported as early as day 64. Coverage also pointed to FB102 data in celiac disease and planned Phase II readouts, with additional autoimmune indications such as alopecia areata discussed as potential expansion areas. Argenx positioned FB102 as expanding its immunology platform beyond its blockbuster Vyvgart mechanism. The transaction is subject to tender and Hart-Scott-Rodino review, and is planned to be funded from cash on hand, underscoring continued appetite for clinical-stage immunology assets that can pair with platform development and commercial reach.