Rallybio Corporation (Nasdaq: RLYB) (“Rallybio”) and Candid Therapeutics, Inc. (“Candid”), a global clinical-stage biotechnology company advancing a leading portfolio of T-cell engager (“TCE”) therapeutics for autoimmune diseases, announce that they have entered into a definitive agreement pursuant to which Rallybio will acquire Candid through a merger transaction (the “Merger”). Upon completion of the Merger, the combined company expects to operate under the name Candid Therapeutics, Inc. and trade on Nasdaq under the ticker symbol “CDRX”. In connection with the Merger, Candid entered into subscription agreements for a concurrent oversubscribed and upsized private financing of over $505 million in gross proceeds.
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Source: https://www.businesswire.com/news/home/20260301356096/en/Rallybio-Corporation-and-Candid-Therapeutics-Announce-Merger-Agreement