On May 3, 2026, UCB, a global biopharmaceutical company, announced signing of a definitive agreement under which it would acquire Candid Therapeutics, a privately held clinical-stage biotechnology company redefining the treatment of autoimmune and inflammatory diseases through novel T-cell engagers (TCEs). This transaction supports UCB’s ambition to bring differentiated solutions to people with severe immune-mediated diseases by focusing on areas of high unmet need and it illustrates the company’s inorganic strategy for growth.

Cizutamig, Candid’s lead investigational asset, is positioned as a potential best in class BCMA TCE for autoimmune diseases. It is a bispecific antibody directed to BCMA on plasma cells and CD3 on T-cells, enabling T-cell–mediated cytotoxicity against BCMA-expressing plasma cells and B-cells. Purposely designed to maintain cytotoxicity while limiting cytokine release, cizutamig has been clinically evaluated in over 100 patients with multiple myeloma and autoimmune diseases and is currently in multiple clinical studies in over 10 autoimmune indications.

The acquisition of Candid builds on UCB’s recently announced transaction with Antengene and reflects a platform driven strategy in next generation immunology. Together, these complementary investments expand UCB’s reach across multiple B cell targets and disease mechanisms, strengthening its ability to address antibody mediated autoimmune diseases through differentiated, biology driven approaches rather than reliance on a single asset or modality.

In addition to cizutamig, Candid is developing a differentiated pipeline of multi specific TCE antibodies designed to enable deep, targeted depletion of pathogenic B cell populations in immune mediated diseases to achieve immune reset. Together, these programs apply a modular, multi antigen targeting strategy to address complementary B cell subsets, supporting the potential for more complete elimination of pathogenic B cell populations and more durable disease control.

Under the terms of the agreement, UCB will pay US $2 billion upfront and up to US $200 million in potential future milestone payments. The transaction remains subject to certain closing conditions, including required anti-trust clearance and other customary conditions, and is expected to close by end of Q2 – early Q3 2026.