Candid Therapeutics Announces Merger With Rallybio Corporation, Concurrent Private Financing of $505+ Million
San Diego – March 2, 2026 – Cooley advised Candid Therapeutics (Candid), a global clinical-stage biotechnology company advancing a leading portfolio of T-cell engager therapeutics for autoimmune diseases, on its definitive merger agreement with Rallybio Corporation (Nasdaq: RLYB). 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, Cooley also advised Candid on a concurrent oversubscribed and upsized private financing of $505+ million in gross proceeds.
The transaction is expected to close in mid-2026, subject to certain closing conditions.
The Cooley team advising Candid is led by M&A lawyers Rama Padmanabhan, Lindsey O’Crump, Jenny Ge, Rita Sobral, Ryan Genkin, Joanna Zhang and John DelMastro, and corporate lawyers Carlos Ramirez, Charlie Kim, Brittany Wightman, Dylan Kornbluth and Walter Musgrave. The team also includes Alessandra Murata, Sharon Connaughton, Stephanie Gentile, Marya Postner, John Forrest and Ross Eberly.
Cooley previously advised Candid on its $370 million capital raise and three-way merger with Vingette Bio and TRC 2004 in September 2024.
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