Candid Therapeutics and WuXi Biologics in $925m T Cell Deal

Candid Therapeutics, a biotechnology company based in the United States, has expanded its portfolio by entering into a new partnership with WuXi Biologics, a Chinese biotech firm, focused on T-cell engagers. This collaboration grants Candid exclusive global rights to a promising preclinical T-cell engager (TCE) asset discovered through WuXi's proprietary WuXiBody platform. As part of the agreement, WuXi Biologics will receive an undisclosed upfront payment and could earn development and sales milestone payments totaling up to $925 million.

Candid Therapeutics plans to initiate first-in-human clinical trials for this potential treatment in the first half of 2026. While the specific medical indications for this preclinical TCE remain undisclosed, Dr. Ken Song, CEO of Candid Therapeutics, stated that the company now boasts three T-cell engager programs. These programs are aimed at BCMA, CD20, and CD19, and are in various stages of clinical development or nearing it. Dr. Song expressed enthusiasm about advancing the progress made by WuXi Biologics and unlocking the full potential of this new molecule.

T-cell engagers are specialized antibodies engineered to redirect the immune system's T cells towards recognizing and attacking specific cell targets. This therapeutic approach has gained prominence in oncology, where cancer cells are the primary targets. However, TCEs also hold promise for treating autoimmune diseases by specifically targeting autoreactive B cells.

Over the past year, Candid Therapeutics has been actively investing in partnerships and collaborations to position itself as a leader in T-cell engagers for autoimmune and inflammatory diseases. In December 2024, the company entered into three research agreements aimed at strengthening its pipeline. One of these collaborations with EpimAb Biotherapeutics could potentially exceed $1 billion in value, contingent on achieving commercial milestones, while another agreement with Nona Biosciences is valued at up to $320 million.

Candid emerged as a notable player in the biotech industry in September 2024, following a successful $370 million Series A funding round. This funding enabled the company to focus on developing its lead assets, CND106 and CND261, which are the only two publicly disclosed candidates in its pipeline. CND106 is a BCMAxCD3 bispecific antibody designed to target and eliminate later-stage B cells, which are responsible for the production of harmful autoantibodies. On the other hand, CND261 targets a broad range of B-cell subtypes.

In its pursuit of addressing unmet medical needs, Candid has completed Phase I dose escalation trials in oncology patients for both CND106 and CND261. These trials, identified by the clinical trial numbers NCT04735575 and NCT04923048, respectively, are now paving the way for the development of these candidates to treat autoimmune diseases.

Overall, the partnership with WuXi Biologics underscores Candid Therapeutics' commitment to advancing innovative therapies and expanding its pipeline of T-cell engagers. By leveraging the expertise and technologies of its partners, Candid aims to make significant strides in the treatment of autoimmune and inflammatory diseases, thereby addressing critical unmet medical needs in these therapeutic areas.