Argenx agreed to acquire Forte Biosciences for about $2.2 billion in cash, moving to add Forte’s anti-CD122 antibody FB102 to its immunology pipeline. The deal values Forte at $77 per share and is expected to close in the third quarter, pending shareholder and antitrust approvals. FB102’s early clinical profile includes a reported 29.6% mean improvement in facial vitiligo area scores at week 24 in a Phase 1b trial, with additional signal in celiac disease. Argenx positions the acquisition as “pipeline-in-a-product,” reflecting its intent to broaden FB102 across autoimmune diseases where T-cell and NK-cell activity is implicated. The acquisition extends a busy M&A stretch in immunology as larger players seek differentiated mechanisms and near-term clinical validation to de-risk late-stage pipeline buildouts.