EDDING GENOR (06998) announced that on August 2, 2024, the group entered into a license agreement and an equity agreement with TRC 2004, Inc. Pursuant to the license agreement, the group granted TRC 2004, Inc. an exclusive global license, excluding mainland China, Hong Kong, Macau, and Taiwan, to develop, use, manufacture, commercialize, and otherwise utilize GB261. As consideration for the license, under the terms of the agreements, the group will receive equity in TRC 2004, Inc., an upfront payment in the tens of millions of US dollars, milestone payments of up to $443 million, and tiered royalty fees ranging from single-digit to double-digit percentages of net sales.

In September 2024, Candid Therapeutics, Inc. merged with TRC 2004, Inc. Following this merger, TRC 2004, Inc. transferred its rights under the license agreement to Candid Therapeutics in December 2024. The equity previously acquired by the group in TRC 2004, Inc. under the equity agreement was converted into equity in Candid Therapeutics. On March 28, 2025, the group and Candid Therapeutics entered into an amendment agreement to revise and supplement certain terms of the license agreement, jointly advancing the clinical development of GB261 in the autoimmune field. Clinical studies for conditions such as rheumatoid arthritis and systemic lupus erythematosus have been initiated, continuously expanding its therapeutic applications.

On May 3, 2026, Belgian pharmaceutical group Union Chimique Belge (UCB), listed on Euronext Brussels, announced it had signed a definitive agreement to acquire Candid Therapeutics. According to the agreement terms, UCB will pay an upfront amount of $2 billion, along with potential future milestone payments of up to $200 million, contingent upon achieving specified milestones. The acquisition remains subject to certain closing conditions, including necessary antitrust approvals and other customary conditions, and is expected to be completed between late Q2 and early Q3 of 2026.