A Dallas-based biopharmaceutical company is set to be acquired in a deal that clocks in at about $2.2 billion and signals optimism around its early-stage immunology research.

Belgian-Dutch pharmaceutical company argenx announced its intention on Monday to acquire Forte Biosciences Inc. for $77 per share in an all-cash deal.

Forte Biosciences specializes in research on FB102, a “proprietary molecule” the company says has significant potential to address autoimmune conditions such as celiac disease, vitiligo, alopecia areata and Type 1 diabetes. It had 22 employees as of March 31, according to a quarterly financial filing.

Forte Biosciences announced positive data from a celiac disease study in June 2025, with more data expected this year from Phase 2 of the study, according to its website. The company also reported positive data from a vitiligo study earlier this month, and data from alopecia areata trials is expected later this year.

The studies were “key drivers” of Argenx’s decision to pursue the buyout as it seeks to become “the leading immunology innovator of the future,” Argenx CEO Karen Massey said in a news release announcing the deal. Its portfolio already includes other antibody-based programs, including efgartigimod, empasiprubart, adimanebart and ARGX-121.

“Our discovery, development and commercialization engines are delivering real value for patients,” she said in the statement. “The addition of FB102 to our portfolio aligns perfectly with the argenx playbook: compelling biology, strong clinical validation and broad potential to address patient need.”

The company is in the clinical trial stage and has not generated any revenue. It reported losses of $69 million in 2025.

Shares of Forte Biosciences jumped by nearly 40% to around $76 following the announcement. Argenx, on the other hand, saw its shares fall about 3%, closing at $888.82 on Monday.

Forte Biosciences CEO Paul Wagner hopes that combining his company’s “promising clinical profile” with Argenx’s more established development process will be a recipe for success.

“We are excited about the future of FB102 and the potential to bring this innovative therapy to many more patients worldwide,” he said in a statement.

The boards of directors of both companies have approved the transaction. It is expected to close in the third quarter of 2026.