Overview
- UCB will pay $2.0 billion at closing with up to $200 million in milestones, with completion targeted between late Q2 and early Q3 pending antitrust review and other approvals.
- The deal centers on cizutamig, a BCMA/CD3 bispecific that directs T cells to kill disease‑driving B and plasma cells while aiming to limit cytokine release, supported by data in more than 100 patients across over 10 indications.
- UCB also gains three multi‑specific T‑cell engager candidates for autoimmune disease, including CND261 that completed a Phase I dose‑escalation study and two trispecifics in preclinical testing.
- The agreement supersedes Candid’s previously announced plan for a reverse merger with Rallybio that would have taken the company public with dedicated financing.
- UCB presents the move as a broader immunology strategy that follows its Antengene T‑cell engager licensing deal and a recent Neurona acquisition, while it keeps its 2026 revenue and profit guidance unchanged.