Candid Therapeutics Acquired by UCB | Healthcare M&A Deal

UCB has acquired Candid Therapeutics, a pharmacy business in the clinical-stage biotech space, for up to $2.2 billion. UCB acquisitions target Candid Therapeutics’ T-cell engager platform focused on autoimmune and inflammatory diseases, centered on cizutamig, a BCMA x CD3 bispecific antibody. Candid Therapeutics has evaluated cizutamig in more than 100 patients across multiple myeloma and autoimmune indications, with studies spanning 10+ autoimmune programs, supporting UCB’s next-generation immunology strategy. The strategic acquisition is structured as $2.0 billion upfront plus up to $200 million in milestone payments, and is expected to close by late Q2 or early Q3 2026, subject to antitrust clearance and customary conditions.