# Palleon Pharmaceuticals

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/palleon-pharmaceuticals

- Industry: Biotechnology
- Headquarters: Waltham, US
- Website: www.palleonpharma.com
- Total disclosed funding: $121M
- Latest round: Series B (Sep 17, 2020)
- Investors on record: 7

## About

Palleon Pharmaceuticals Inc. develops innovative therapies focusing on glycan editing, aiming to treat cancer and autoimmune diseases through advanced glycobiology techniques.Founded in 2016 and headquartered in Waltham, US, Palleon Pharmaceuticals Inc. specializes in glycan editing therapies. The company has pivoted its focus towards addressing significant unmet medical needs in oncology and immunology. Under the leadership of CEO Jim Broderick, the company completed its Series B funding round in September 2020, raising USD 100.000 mn, bringing the total amount raised to USD 100.000 mn and achieving a post-money valuation of USD 238.830 mn. The latest funding round was led by Matrix Capital Management, with participation from several notable investors including AbbVie Biotech Ventures and Pfizer Venture Investments.Palleon Pharmaceuticals specializes in innovative therapies centered around glycan editing, targeting cancer and autoimmune diseases. The company focuses on utilizing advanced glycobiology techniques to modify glycan structures on cell surfaces, enhancing immune responses and improving treatment efficacy for patients with various malignancies and autoimmune conditions. These therapeutic solutions aim to address significant unmet medical needs, particularly in the oncology and immunology sectors, and are designed for healthcare providers, hospitals, and research institutions in North America and Europe.Palleon Pharmaceuticals generates revenue through strategic partnerships and collaborations with pharmaceutical companies and research organizations. The company engages in licensing agreements that allow partners to access its glycan editing technologies for development into commercial therapies. Revenue transactions typically occur on a B2B basis, with partners paying for licenses or development services, often including milestone payments tied to the progress of clinical trials. While specific pricing plans are proprietary, the collaborative framework is designed to ensure mutual benefits in bringing groundbreaking therapies to market, leveraging its proprietary glycan editing technologies.Palleon Pharmaceuticals plans to utilize the recent Series B funding, raised in September 2020, to support the development of upcoming products centered around glycan editing technologies. The company intends to expand its market presence into Europe and Asia by the end of 2023, targeting regions with high demand for next-generation treatments. The funding will facilitate product development and strategic partnerships that enhance their therapeutic offerings and broaden their impact in the oncology and immunology sectors.

## Funding rounds

- Series B, Sep 17, 2020, $100M — SR One, Pfizer Venture Investments, AbbVie Ventures, Takeda Ventures, Matrix Capital Management, Vertex Ventures HC, Surveyor Capital
- Series A, Nov 17, 2017, $21M — SR One, Pfizer Venture Investments, AbbVie Ventures, Takeda Ventures, Vertex Ventures HC

## Investors

- SR One (https://capitalatlas.ai/funds/sr-one) — Series A, Series B
- Pfizer Venture Investments (https://capitalatlas.ai/funds/pfizer-venture-investments) — Series A, Series B
- AbbVie Ventures (https://capitalatlas.ai/funds/abbvie-ventures) — Series A, Series B
- Takeda Ventures (https://capitalatlas.ai/funds/takeda-ventures) — Series A, Series B
- Vertex Ventures HC (https://capitalatlas.ai/funds/vertex-ventures-hc) — Series A, Series B
- Matrix Capital Management — Series B
- Surveyor Capital — Series B