Merck acquires newly public Watertown biotech for $1.85B

Life sciences giant Merck is buying Pandion Therapeutics, the autoimmune disorder-focused biotech that went public last July in one of the largest IPOs of 2020, for $1.85 billion in stock. Pandion's stock price nearly doubled upon the news of the Thursday morning announcement. Launched in 2018 by former executives at Pfizer and Biogen, Pandion aims to treat autoimmune disorders by targeting critical immune control nodes with immune system-modulating molecules. Its lead candidate, a drug that targets…
Source: bizjournals.com Health Care:Pharmaceuticals headlines - Category: Pharmaceuticals Authors: Source Type: news