UCB agreed to acquire Candid Therapeutics for up to $2.2 billion, expanding its T-cell engager antibody pipeline for autoimmune and inflammatory indications. UCB said the deal adds Candid’s lead investigational asset, cizutamig, a BCMA/CD3 bispecific designed to enable T-cell–mediated cytotoxicity against plasma cells and B cells while aiming to limit cytokine release. Cizutamig is in multiple phase 1 programs across autoimmune indications and has been evaluated in more than 100 patients with multiple myeloma and autoimmune diseases. The acquisition is positioned as a response to big pharma’s continued appetite for next-generation, China-origin immune assets, and it comes after Candid had previously explored a reverse-merger plan involving Rallybio. UCB’s agreement reinforces its focus on next-generation biologics and pipeline breadth rather than a single-asset bet. Deal execution will hinge on standard closing conditions including antitrust clearance, with UCB aiming to integrate assets into its immunology portfolio.