Edding Genor disposes entire Candid stake to UCB, pockets USD 48.42 million upfront

Bulletin Express07-16 22:40

Edding Genor disclosed that, on 16 July 2026, it received USD 48.42 million in cash after its 12.50 million common shares in Candid Therapeutics (2.29 % of Candid’s share capital) were automatically converted into merger consideration following UCB’s acquisition of the U.S. biotech firm.

The transaction stems from a 3 May 2026 merger agreement under which UCB’s subsidiary merged with Candid, valuing the target at an upfront USD 1.95 billion plus development milestones of up to USD 200.00 million. All Candid shareholders—Edding Genor included—received the same terms; Edding Genor had no role in negotiating the deal.

Financial effects • Immediate gain: The disposal generated an unaudited gain of USD 33.80 million for Edding Genor. • Further upside: The company is entitled to its pro-rata share of any future milestone payments and escrow releases linked to Candid’s lead product development. • Use of proceeds: Funds will be deployed for general corporate purposes.

Background • August 2024: Edding Genor out-licensed CD3/CD20 bispecific antibody GB261 to TRC 2004 for an upfront payment, milestones up to USD 443.00 million and royalties, receiving TRC 2004 equity. • August 2024: TRC 2004 merged into Candid, converting Edding Genor’s shares into 12.50 million Candid shares. • May–June 2026: UCB announced and subsequently closed the Candid acquisition, triggering the current disposal.

Candid financial snapshot (US GAAP, audited) • 2025 net loss: USD 92.24 million • 2024 net loss (since inception): USD 174.31 million • 31 Dec 2025 total assets: USD 231.57 million; net assets: USD 214.52 million

Listing rules The highest applicable percentage ratio under Hong Kong Listing Rule 14.07 is between 5 % and 25 %, classifying the disposal as a discloseable transaction requiring announcement but not shareholder approval.

Shareholders and prospective investors are advised to exercise caution when dealing in Edding Genor’s securities.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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