UCB Completes Acquisition of Candid Therapeutics for $2.2 Billion
UCB announced on Wednesday the completion of its acquisition of Candid Therapeutics, a clinical-stage biotech specializing in T-cell engaging therapies. The transaction, valued at up to $2.2 billion, adds cizutamig, a drug candidate designed to target pathogenic B cells in autoimmune diseases, to its portfolio.
UCB finalized the acquisition of Candid Therapeutics on Wednesday, a strategic move in the field of innovative immunotherapies. The transaction totals $2.2 billion, including $2 billion paid as an initial payment and up to $200 million in future milestone payments contingent on the achievement of clinical or regulatory milestones.
This acquisition strengthens UCB's position in immunology and expands its capabilities in next-generation biologics.
Cizutamig, a Bispecific Antibody in Phase 1
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Cizutamig, the principal asset of Candid, is a bispecific antibody targeting the B-cell maturation antigen (BCMA) present on plasma cells and CD3 on T cells. This agent is designed to promote the elimination of pathogenic B cell populations by T cells.
The drug candidate is currently being evaluated in several Phase 1 clinical trials for various autoimmune diseases. Cizutamig has not been approved by the FDA or other health authorities at this stage of development.
A Strategic Immunological Platform
This acquisition is part of UCB's strategy to strengthen its immunological platform around T-cell engaging therapies for autoimmune and inflammatory diseases. Concurrently, the group presented new Phase 2/3 data on Bimzelx (bimekizumab) in psoriatic arthritis and axial spondyloarthritis, as well as mechanistic data reinforcing the profile of Cimzia in rheumatoid arthritis, at Eular 2026 last week.
SectorPharmacie et biotechnologies›Vaccins et laboratoires de recherche
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Context
Period
Period: S1 2026
Key reported figures
Revenue: 4 270 millions d'euros
Quarterly revenue: 4 270 millions d'euros
Revenue growth: 22,5 %
EBITDA: 1 685 millions d'euros
EBITDA margin: 40,7 %
Net income: 1 111 millions d'euros
2 821 millions d'euros
Guidance from the release
Based on the continued strong growth, revenue is expected to grow in the low-teens to mid-teens percentage range; Reflecting our strong execution and confidence in the outlook
Risks mentioned
Perte d'exclusivité de BRIVIACT aux États-Unis depuis février 2026 et en Europe attendue en août 2026
Ventes de VIMPAT au Japon affectées par l'arrivée de génériques fin 2025
Expiration en 2026 de la protection brevetaire de CIMZIA au Japon
Opportunities identified
Objectif de ventes maximales de BIMZELX relevé à au moins 7 milliards d'euros
Supériorité de BIMZELX sur risankizumab dans le rhumatisme psoriasique (étude BE BOLD)
FINTEPLA déposé dans le syndrome CDKL5 auprès de la FDA et de l'EMA, Phase 3 lancée dans le syndrome de Rett
Outlook / guidance
Management commentary: revenue is expected to grow in the low-teens to mid-teens percentage range at constant exchange rates (CER). Adjusted EBITDA² is expected to grow in the mid-teens to low-twenties percentage range at CER. Excluding other operating one-offs in 2025, adjusted EBITDA² growth is expected to be in the mid-twenties to low-thirties percentage range at CER.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
