Candid Therapeutics Enters into Agreement with WuXi Biologics on Trispecific T-cell Engager

SAN DIEGO & SHANGHAI-Candid Therapeutics, Inc. (“Candid”), a clinical-stage biotechnology company focused on becoming the leader in advancing T-cell engagers for autoimmune and inflammatory diseases, announced today an agreement with WuXi Biologics under which Candid will have exclusive global rights to a preclinical trispecific T-cell Engager discovered at WuXi Biologics’ proprietary universal multispecific antibody platform WuXiBody^TM. Candid plans to complete IND enabling studies to enable first-in-human studies in the first half of 2026.

“To further solidify our leadership position in T-cell engagers to deplete B cells for treatment of autoimmune and inflammatory diseases, this transaction uniquely positions us with three TCE programs targeting BCMA, CD20, and CD19 in or near clinical development. We are excited to further the advances made by WuXi Biologics and to unlock the full potential of this molecule,” said Dr. Ken Song, Chairman, President and CEO of Candid.

Dr. Chris Chen, CEO of WuXi Biologics, commented, “We’re glad to enable Candid to advance the progress of T-cell engagers through WuXiBody^TM. This collaboration not only showcases the platform’s capabilities in trispecific discovery in addition to its well-validated bispecific discovery, but also reinforces WuXi Biologics’ position as a preferred partner for pioneering next-generation modalities. We look forward to supporting Candid and other global partners in bringing more innovative therapies to benefit patients around the world.”

Under the terms of the agreement, WuXi Biologics is entitled to obtain an upfront payment, and development and sales milestones totaling up to $925 million as well as royalties.

About Candid Therapeutics, Inc.

Candid Therapeutics is a clinical-stage biotechnology company focused on becoming the leader in advancing T-cell engagers for B-cell depletion to treat autoimmune diseases. Candid is advancing two lead B-cell depleting TCE antibody drug candidates, with a goal to broadly explore the potential of TCEs across multiple autoimmune diseases by targeting different B-cell protein targets, as well as evaluating different depths of B-cell depletion. Established in 2024 and headquartered in San Diego, CA, Candid is led by a team of entrepreneurial executives who have a track record of advancing programs into and through development and is supported by a distinguished syndicate of premier life science investors.

About WuXi Biologics

WuXi Biologics (stock code: 2269.HK) is a leading global Contract Research, Development and Manufacturing Organization (CRDMO) offering end-to-end solutions that enable partners to discover, develop and manufacture biologics – from concept to commercialization – for the benefit of patients worldwide.

With over 12,000 skilled employees in China, the United States, Ireland, Germany and Singapore, WuXi Biologics leverages its technologies and expertise to provide customers with efficient and cost-effective biologics discovery, development and manufacturing solutions. As of June 30, 2024, WuXi Biologics is supporting 742 integrated client projects, including 16 in commercial manufacturing (excluding COVID CMO projects and non-COVID dormant CMO project).

WuXi Biologics views Environmental, Social, and Governance (ESG) responsibilities as an integral component of our ethos and business strategy, and we aim to become an ESG leader in the biologics CRDMO sector. Our facilities use next-generation biomanufacturing technologies and clean-energy sources. We have also established an ESG committee led by our CEO to steer the comprehensive ESG strategy and its implementation, enhancing our commitment to sustainability.

For more information about WuXi Biologics, please visit: www.wuxibiologics.com.