UCB pays up to $2.2bn for Candid Therapeutics, doubling down on T-cell engagers in autoimmune disease

The Belgian pharma is buying a two-year-old San Diego biotech for $2bn upfront, the second TCE bet it has placed in months. The thesis: B-cell killers built for cancer can rewire how autoimmune diseases are treated. Candid Therapeutics is two years old.