UCB moved to expand its autoimmune pipeline by backing Ken Song’s T cell engager ambitions with a reported $2 billion bet on Candid, a company advancing T cell engager programs designed for autoimmune indications. The deal reflects how quickly the large European pharma cohort is building depth in T-cell redirecting modalities beyond oncology. The article frames UCB’s investment as a high-conviction attempt to validate the therapeutic potential of T cell engagers in autoimmune diseases, where success has been complicated by safety and durability considerations. For Candid, access to UCB’s late-stage development resources could accelerate clinical execution and help resolve key translational questions around target engagement and tolerability in immune-mediated populations. The announcement also signals continued capital concentration among modality-focused biotechs as major pharma seeks differentiated mechanisms rather than incremental follow-ons.