US-based biotechnology company Rallybio Corporation has entered into a definitive agreement to acquire Candid Therapeutics through a merger that has been unanimously approved by the boards of directors of both companies[1]. Candid Therapeutics is a clinical biotechnology company focused on the development of T-cell engager (TCE) therapies for autoimmune diseases[1]. The transaction secured a concurrent financing round of more than $505 million from leading healthcare investors and mutual funds[1][4]. After the merger, the company will operate under the name Candid Therapeutics, Inc. and will be traded on the Nasdaq stock exchange under the ticker "CDRX"[2]. Candid's lead candidate is cizutamig, which targets the BCMA and CD3 proteins, and is expected to enter phase 2 clinical trials in 2026 in patients with myasthenia gravis or interstitial lung disease[5]. The merger is expected to close in mid-2026, and the combined company will have a forecast cash position of close to $700 million, which should fund research and operations through 2030[4].