UCB To Acquire Candid Therapeutics for Up to $2.2 Billion

Biogen Acquires RayThera for Up to $1 Billion to Expand Immunology Pipeline

June 18, 2026

Healthcare Services

Biogen entered into a definitive agreement to acquire RayThera, a private immunology-focused biotechnology company, for total consideration of up to $1 billion driven by an upfront payment plus clinical and regulatory milestone payments. The deal is expected to close in the third quarter of 2026, with Biogen taking over development, manufacturing, and global commercialization of RayThera’s small-molecule anti-inflammatory assets.

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.

Rallybio Corporation Acquires Candid Therapeutics

March 5, 2026

Biotechnology

Rallybio Corporation entered into a definitive agreement to acquire clinical-stage biotechnology company Candid Therapeutics in a merger transaction. The combined company will operate as Candid Therapeutics, Inc. and is expected to trade on Nasdaq under the ticker symbol CDRX, with the deal targeted to close in mid-2026 subject to customary conditions and approvals. Concurrently, Candid arranged an oversubscribed private financing of more than $505 million from a syndicate of healthcare institutional investors and mutual funds, expected to fund operations through 2030.

AbbVie Acquires Celsius Therapeutics

June 27, 2024

Biotechnology

AbbVie has acquired Celsius Therapeutics, a Cambridge-based clinical-stage biotechnology company, for $250 million in cash. The acquisition adds Celsius' lead anti-TREM1 antibody candidate CEL383 to AbbVie’s inflammatory disease pipeline to support development for inflammatory bowel disease (IBD).

UCB to Acquire Zogenix for up to $1.9B

January 19, 2022

Pharmaceuticals

UCB (Euronext: UCB) has agreed to acquire Zogenix, Inc. (NASDAQ: ZGNX) in a cash tender offer valuing the deal at up to approximately US$1.9 billion, consisting of US$26.00 per share in cash plus a contingent value right of up to US$2.00 per share tied to regulatory milestones. The acquisition adds Zogenix's FINTEPLA (fenfluramine) — an approved treatment for seizures associated with Dravet syndrome and under review for Lennox-Gastaut syndrome — to UCB's neurology and rare disease portfolio and is expected to expand UCB's epilepsy pipeline and global commercial reach.

BioNTech Acquires Neon Therapeutics

January 16, 2020

Biotechnology

BioNTech SE will acquire Neon Therapeutics, Inc. in an all-stock transaction valued at approximately $67.0 million. Neon, a Cambridge-based developer of neoantigen-targeted T cell therapies, will become a wholly owned subsidiary of BioNTech to expand BioNTech’s T cell therapy capabilities and U.S. presence.