Shares of Cullinan Therapeutics (CGEM) are moving higher after UCB (UCBJF) announced an agreement to acquire privately held Candid Therapeutics. Cizutamig, Candid’s lead investigational asset, is “positioned as a potential best in class BCMA TCE for autoimmune diseases,” UCB said in a statement. Cullinan’s lead autoimmune asset, CLN-978, is a CD19xCD3 bispecific T-cell engager being developed in lupus, rheumatoid arthritis, and Sjogren’s disease. Shares of Cullinan are up 7%, or 97c, to $14.40 in morning trading.
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