<a href="https://www.fiercebiotech.com/biotech/rallybio-swerves-past-candid-pothole-land-deal-cancer-drug-developer-avenzo" hreflang="en">Rallybio swerves past Candid pothole to land deal with cancer drug developer Avenzo</a>
fiercebiotech.com·Jun 1, 2026
Rallybio has secured a reverse merger with Avenzo Therapeutics after the previous merger with Candid Therapeutics fell through due to a buyout. The new deal will provide Avenzo with $215 million in funding to advance its cancer drug development programs, including several in phase 1 trials.
The most valuable insight for you is that Rallybio's recent reverse merger with Avenzo Therapeutics, bolstered by a $215 million investment, positions the combined entity to advance four clinical programs, including two bispecific antibody-drug conjugates (ADCs) and CDK inhibitors, into late-stage development. This move highlights a strategic pivot that could influence both investment opportunities and competitive dynamics in oncology drug development.