Argenx agreed to acquire Forte Biosciences for about $2.2 billion in cash, expanding its immunology platform with FB102, an anti-CD122 monoclonal antibody. The deal values Forte at $77 per share, a large premium following positive Phase Ib results in vitiligo and additional celiac disease data previously reported. Argenx said FB102 is a “pipeline-in-a-product” opportunity, with potential reach into autoimmune conditions beyond the initial validated indications. Forte reported a 29.6% mean Facial Vitiligo Area Scoring Index improvement at week 24 in its vitiligo study, alongside statistically significant signals that emerged early and persisted through the treatment window. The acquisition also reflects a strategy shift for Argenx from strategic investing to full ownership as it seeks to compound clinical validation with internal development and commercialization capabilities. Forte’s investors included Argenx, and the transaction is expected to require antitrust clearance under Hart-Scott-Rodino. The move intensifies competition among immunology buyers seeking differentiated mechanisms that can pair well with established revenue streams and broaden long-term pipeline duration.