UCB is accelerating its immunology expansion by agreeing to buy Candid Therapeutics in a deal valued at $2 billion up front, with up to $200 million in additional milestone payments. The acquisition adds two clinical-stage T-cell engager programs, including cizutamig (CND-106), a BCMA/CD3 bispecific, as UCB targets autoimmune indications. Candid, which previously pursued a reverse merger with Rallybio, will end that process to complete the UCB transaction, which is expected to close in the second or third quarter of 2026. UCB frames the move as part of its “inorganic innovation strategy,” positioning bispecifics as a next-wave approach for immune-mediated disease. For investors, the Candid package is notable because it broadens UCB’s engagement with TCE biology beyond internal candidates, while reinforcing the market’s willingness to pay for late-stage autoimmune immune redirectors. The transaction also underlines ongoing interest in China-developed antibody assets entering Western development pipelines, with UCB citing the portfolio’s relevance to immune reset strategies.