UCB agreed to acquire Candid Therapeutics for up to $2.2 billion, expanding its presence in T-cell engager (TCE) antibodies for immunology indications. The deal adds Candid’s bispecific and trispecific pipeline, including the BCMA/CD3 asset cizutamig, as UCB positions the strategy as an “immune reset” play. Under the terms announced May 3, UCB will pay $2.0 billion up front and up to $200 million in milestones. Candid is privately held and based in San Diego, with a portfolio that includes cizutamig (in multiple Phase I programs across autoimmune indications and multiple myeloma) and other early-stage B-cell-targeting CD20 x CD3 and CD19/CD20 x CD3 candidates. Candid’s assets include licenses tied to China-made biologics, underscoring how Western partners are continuing to build TCE pipelines with content sourced from Chinese biotechs. The acquisition also ends Candid’s prior plan to pursue a reverse merger involving Rallybio.