Rallybio Corporation (Nasdaq: RLYB) (Rallybio) and Candid Therapeutics, Inc. (Candid), a global clinical-stage biotechnology company advancing a leading portfolio of T-cell engager therapeutics for autoimmune diseases, have announced that they have entered into a definitive agreement pursuant to which Rallybio will acquire Candid through a merger transaction. In connection with the merger, Candid entered into subscription agreements for a concurrent oversubscribed and upsized private financing of over US$505 million in gross proceeds with a syndicate of leading healthcare institutional investors and mutual funds.
Latham & Watkins LLP advised the placement agents in the financing transaction, with a corporate team led by San Diego partner Matt Bush, with associate Omeed Valipour.
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.