UCB to acquire Candid Therapeutics for up to $2.2B, adding BCMA-targeting T-cell engager cizutamig to strengthen its autoimmune disease pipeline.
Written By: Pharmacally Medical News Desk
UCB has entered a definitive agreement to acquire Candid Therapeutics in a transaction valued at up to $2.2 billion, including $2 billion upfront and up to $200 million in milestone payments. The deal is expected to close by late Q2 to early Q3 2026, pending regulatory approvals and customary conditions.
The acquisition strengthens UCB’s strategy to expand its immunology pipeline through targeted external innovation. It also follows the company’s recent transaction with Antengene, reflecting a broader push to build a diversified platform addressing immune-mediated diseases.
Candid’s lead asset, cizutamig, is an investigational bispecific antibody designed as a T-cell engager (TCE). It targets B-cell maturation antigen (BCMA) on plasma cells and CD3 on T-cells, enabling immune-mediated destruction of pathogenic B cells.
The molecule is engineered to retain cytotoxic activity while reducing cytokine release, a known safety concern with TCE therapies. Cizutamig has been studied in more than 100 patients across multiple myeloma and autoimmune conditions and is currently being evaluated in clinical trials spanning over 10 autoimmune indications.
Beyond cizutamig, Candid is developing a pipeline of multi-specific TCE antibodies aimed at selectively depleting pathogenic B-cell populations. These programs use a modular approach to target multiple B-cell subsets, with the goal of achieving deeper and more sustained disease control in antibody-mediated autoimmune disorders.
Jean-Christophe Tellier, Chief Executive Officer of UCB stated that the acquisition represents a key step in advancing the company’s immunology pipeline and integrating next-generation therapeutic approaches. He highlighted cizutamig as a potential addition that complements existing programs and supports efforts to improve outcomes in severe immune-mediated diseases.
Ken Song, Chairman, CEO and President of Candid Therapeutics noted that Candid was established to develop TCE-based therapies across multiple indications, with a focus on generating clinical data to identify areas of greatest benefit. He added that UCB’s capabilities in development and commercialization are expected to support further advancement of the pipeline.
Cizutamig remains an investigational therapy and has not been approved by the U.S. FDA or other regulatory authorities.
UCB indicated that the financial impact of the transaction is expected to remain within its existing framework. The company’s 2026 guidance is unchanged, with projected revenue growth in the high single-digit to low double-digit range and adjusted EBITDA expected to increase in the high single-digit to mid-teens range.
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