UCB agreed on 3 May 2026 to acquire Candid Therapeutics, a San Diego-based developer of T-cell engager antibodies for autoimmune and inflammatory diseases, for $2bn upfront and up to $200m in milestones.
Why UCB S.A. is buying Candid Therapeutics, Inc.
UCB chief executive Jean-Christophe Tellier described the purchase as its inorganic innovation strategy in action. Candid's T-cell engagers aim to deplete disease-causing B cells and plasma cells, an approach UCB sees as a next-generation option in immunology.
Deal terms and financing
UCB pays $2bn upfront and up to $200m in future milestones. Candid's lead candidate, cizutamig, was licensed from Shanghai-based EpimAb Biotherapeutics and has been tested in more than 100 patients with multiple myeloma and autoimmune diseases.
Regulatory approvals and timing
Closing required antitrust clearance and was expected at the end of the second quarter or early in the third. UCB announced completion on 17 June 2026.
Market context
In March Candid had agreed a reverse merger with Rallybio backed by $505m of concurrent financing; the UCB sale replaced that plan.
