News Article
UCB acquiring Candid Therapeutics for up to $2.2bn
Listed Belgian biopharmaceutical group UCB SA has struck a definitive agreement to acquire clinical-stage biotechnology firm Candid Therapeutics for up to $2.2bn.
The deal secures a highly coveted pipeline of novel T-cell engagers for autoimmune diseases. The transaction consists of a $2bn upfront cash payment and up to $200m in potential development milestones.
Candid’s lead investigational asset, cizutamig, is a bispecific antibody targeting the B-cell maturation antigen on plasma cells alongside CD3 on T-cells. The clinical profile of cizutamig allows it to be dosed in an outpatient setting.
Slated to close by the end of the second quarter or early in the third quarter of 2026, the deal abruptly supersedes Candid’s previously announced reverse merger with Rallybio, triggering a $50m termination fee. For operators and investors, the move highlights a strategic pivot toward therapies capable of delivering a deep, durable immune reset.
