Candid Therapeutics is advancing a pipeline of bispecific T-cell engager (TCE) antibodies that selectively direct T cells to eliminate disease-causing B cells and plasma cells in autoimmune disorders. Its lead candidate, cizutamig, targets BCMA and CD3 and has been administered to 87 patients (47 with autoimmune diseases), showing favorable tolerability with only mild cytokine release syndrome; Phase 2 studies in myasthenia gravis and rheumatologic interstitial lung disease are slated for 2026. Additional assets include CND261, a CD20-directed TCE already tested in over 100 patients, and CND319, a dual CD19/CD20 engager expected to enter first-in-human trials in mid-2026, plus a preclinical BCMA/CD19 program. The company is led by Chairman, President and CEO Dr. Ken Song and, following a planned merger with Rallybio, will trade on Nasdaq under the ticker CDRX. An oversubscribed private financing of more than $505 million, together with Rallybio’s cash, will leave the combined entity with roughly $700 million at closing, providing funding runway through 2030. These resources are earmarked to advance multiple clinical milestones, including the Phase 2 trials for cizutamig and early-stage studies for next-generation TCEs.

Total raised

$875M

Funding rounds

2

Latest round

Equity

Latest activity

Mar 2026