UCB agreed to buy Candid Therapeutics for $2 billion up front, adding two clinical-stage bispecific T-cell engager programs to its autoimmune pipeline, including the lead BCMA/CD3 asset cizutamig (CND-106). UCB’s buy also extends a broader push to acquire China-origin antibody platforms for immune-mediated diseases. Candid will receive $2 billion in up-front payments and up to $200 million in potential milestones, with the deal expected to close by the end of the second or third quarter of 2026. Candid’s reverse merger plans were described as being canceled as part of the transaction. The acquisition keeps TCE competition focused on “immune reset” approaches, as UCB positions the TCE class for additional autoimmune indications beyond existing hematology frameworks.