Candid Therapeutics raises $370 million for bispecifics bet

• If correct, it could turn a well-funded segment of biotech on its head.

Details: This was a complex deal, which included $206 million in direct funding and $170 million raised by a pair of small biotechs — Vignette Bio and TRC 2004 — that Candid simultaneously acquired.

• Other investors include Foresite Capital, Third Rock Ventures, Fidelity, Samsara BioCapital, Qiming Venture Partners USA, OrbiMed, Boxer Capital, Redmile Group, Vida Ventures, Two River, Franklin Templeton, LifeSci Venture Partners, Mirae Asset Capital Life Science, Polaris Innovation Fund, and Soleus Capital.

Go deeper, via BioPharmaDive: "Like cell therapies, T cell engagers can be designed to target B cells. But they're administered more conveniently, don't require chemotherapy conditioning and are easier to manufacture."