Latham & Watkins Advises on US$505 Million Financing in Connection With Rallybio-Candid Therapeutics Merger

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.