UCB agreed to acquire Candid Therapeutics for up to $2.2 billion, a deal designed to expand UCB’s portfolio of T-cell engager (TCE) antibodies in autoimmune and inflammatory disease. The transaction adds Candid’s lead BCMA/CD3 bispecific, cizutamig (CND-106), plus the company’s early pipeline of bispecific and trispecific candidates. Candid’s cizutamig is aimed at autoantibody-driven diseases by directing cytotoxicity toward plasma cells (via BCMA) and T cells (via CD3), with the goal of limiting cytokine release. It is already in multiple Phase 1 studies across more than 10 autoimmune indications and has completed multiple myeloma evaluation in over 40 patients. The agreement also follows Candid’s earlier plan to pursue a reverse merger with Rallybio, which would have kept the Candid name while creating new publicly traded shares. UCB’s bid effectively resets that path and underscores big pharma’s appetite for China-sourced autoimmune assets. The deal is expected to close in the second or third quarter of 2026, keeping pressure on translational teams to integrate early clinical manufacturing, safety data, and regulatory execution across geographies.