UCB pressed deeper into T-cell engager development by agreeing to acquire Candid Therapeutics for up to $2.2 billion, combining two clinical-stage autoimmune bispecific programs with Candid’s lead BCMA/CD3 asset cizutamig (CND-106). UCB said the deal would include $2 billion upfront and as much as $200 million in milestones, with closing expected by late Q2 or Q3. The buyout also follows corporate repositioning at Candid, which terminated a planned reverse merger with Rallybio to accept UCB’s offer. The transaction underscores how companies are competing for next-generation autoimmune immune reset platforms after years of growth in T-cell engager strategies. The wider deal context also points to renewed biotech consolidation momentum, with market reporting highlighting multiple billion-dollar transactions in the first half of 2026 and placing UCB’s move among the largest across the sector.