UCB SA announced on 3 May that it has signed an agreement to acquire Candid Therapeutics Inc of San Diego, US, broadening its portfolio to include biologics targeting autoimmune and inflammatory diseases. The Belgium-based biopharma company already has marketed products for epilepsy, plaque psoriasis, and Crohn’s disease. The acquisition will add preclinical and early clinical-stage products to UCB’s portfolio, the most advanced of which are bispecific T cell engagers. These are antibodies that can bind T cells to tumour cells to kill cancers. More recently, they are being designed to redirect T cells to eliminate pathogenic B cells in autoimmune diseases.
The value of the acquisition is up to $2.2 billion consisting of an upfront payment of $2 billion and potential milestones of up to $200 million. The transaction is expected to close by the end of the second quarter, or shortly thereafter.
Candid’s lead product is cizutamig, a bispecific antibody directed at the B-cell maturation antigen (BCMA) on plasma cells and the CD3 transmembrane signaling protein complex on T cells. It is in Phase 1 and has been clinically evaluated in more than 100 patients with multiple myeloma and autoimmune diseases. Candid’s other publicly-disclosed drug candidates are the bispecific CND261 for non-Hodgkin’s lymphoma and CND-319 and CND460 which are preclinical tri-specific antibodies for autoimmune diseases.
In a prepared statement, Jean-Christophe Tellier, UCB’s chief executive, said the deal complements a licensing agreement concluded in March with Antengene Corp Ltd of Hong Kong giving UCB rights to another T cell engager product poised to enter clinical development for autoimmune diseases. He said the two deals are examples of “the next wave of therapies to treat immune-mediated diseases and reflects our commitment to setting new standards to achieve immune reset.”
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