Argenx moved to expand beyond Vyvgart, announcing an all-cash $2.2 billion acquisition of Forte Biosciences. The deal values Forte at $77 per share and is set to close in the third quarter, bringing Forte’s lead anti-CD122 antibody FB-102 into Argenx’s pipeline. FB-102 has early clinical validation in vitiligo, with Argenx citing a phase 1b signal and expectations for upcoming phase 2 data in celiac disease. Argenx said the antibody complements its existing immunology portfolio by targeting pathogenic T-cell and NK-cell activity, positioning the asset for broader autoimmune applications. The transaction underscores continued appetite among large immunology players to buy clinical-stage differentiation rather than build from scratch, particularly in an environment where dealmaking remains active across the sector.