UCB moved to acquire Candid Therapeutics for up to $2.2 billion, securing T-cell engager (TCE) capabilities focused on autoimmune and inflammatory indications. The deal adds Candid’s lead bispecific asset cizutamig (BCMA/CD3) and earlier-stage candidates, including CND261 and preclinical trispecifics. Candid’s cizutamig is designed to enable T-cell mediated cytotoxicity while aiming to manage cytokine release, and the pipeline is already in multiple Phase I studies across more than 10 autoimmune indications. UCB framed the transaction as an expansion of its immunology portfolio into next-generation bispecific/trispecific formats. The agreement also reflects a faster-moving competitive landscape for China-sourced early assets, as UCB sought to keep the momentum of its TCE strategy after previously announced plans by Candid around a reverse merger.