Rallybio Corporation Acquires Candid Therapeutics

Rallybio Corporation to Acquire Avenzo Therapeutics in $215M Financing Deal

June 2, 2026

Biotechnology

Rallybio Corporation entered into a definitive merger agreement to acquire Avenzo Therapeutics, with the combined company expected to operate as Avenzo Therapeutics, Inc. and trade on Nasdaq under the ticker symbol AVZO. The transaction includes a concurrent, oversubscribed $215 million private placement with participation from healthcare institutional investors and mutual funds, and is expected to close in Q4 2026 subject to customary conditions.

UCB To Acquire Candid Therapeutics for Up to $2.2 Billion

May 3, 2026

Biotechnology

UCB, a global biopharmaceutical company, has signed a definitive agreement to acquire Candid Therapeutics for up to $2.2 billion. The deal includes $2.0 billion in upfront payments and up to $200 million in potential milestone payments, and is expected to close by the end of Q2 or early Q3 2026, subject to antitrust clearance and customary conditions.

UCB Acquires Candid Therapeutics

May 3, 2026

Biotechnology

UCB has agreed to acquire Candid Therapeutics, a clinical-stage biotechnology company focused on T-cell engagers for autoimmune and inflammatory diseases, for up to $2.2 billion including $2.0 billion upfront. Two River and Vida Ventures, part of the Bellco Health ecosystem, highlighted their roles in founding and early development of Candid following the announced acquisition.

Eli Lilly & Company Acquires CrossBridge Bio

April 14, 2026

Biotechnology

Eli Lilly and Company has entered into a definitive agreement to acquire CrossBridge Bio, a Houston-based pre-clinical biotechnology company developing next-generation dual-payload antibody-drug conjugates (ADCs). The deal provides for up to $300 million in total consideration, including upfront and milestone-based payments, to advance CrossBridge Bio’s TROP2-targeting TOP1i/ATRi ADC platform led by CBB-120.

GlycoMimetics to Acquire Crescent Biopharma (Merger to Operate as Crescent Biopharma, Inc.)

October 29, 2024

Healthcare Services

GlycoMimetics entered into an acquisition agreement with privately held oncology-focused biotechnology company Crescent Biopharma. The combined company will operate under the name Crescent Biopharma, Inc., advancing Crescent’s precision-engineered biologics for solid tumors, including the lead program CR-001, alongside ADC programs CR-002 and CR-003, supported by approximately $200 million in committed financing. GlycoMimetics stockholders approved the proposed merger in June 2025, and the combined company is expected to begin trading on Nasdaq on June 16, 2025 under the new ticker.

Treadwell Therapeutics Acquires TCRyption Inc.

October 15, 2021

Biotechnology

Treadwell Therapeutics announced it has acquired TCRyption Inc., a TIO Bioventures–backed developer of a novel TCR-identification platform for T cell therapies, in a stock-swap transaction. The acquisition brings the TCRypt platform and a bank of TCR candidates into Treadwell's pre-clinical oncology pipeline to expand its cell-therapy capabilities, with initial TCR programs expected to enter the clinic in early 2023.