# Pandion Therapeutics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pandion-therapeutics

- Industry: Biotechnology
- Headquarters: Watertown, US
- Website: www.pandiontx.com
- Total disclosed funding: $98M
- Latest round: Series B (Mar 23, 2020)
- Investors on record: 10

## About

Founded in 2016 by Alan Crane, Anthony Coyle, David H. Sachs, and Jo Viney and based in Massachusetts, US, Pandion Therapeutics, Inc. is a wholly-owned subsidiary of Merck & Co., Inc., known as MSD outside the US and Canada. Pandion is a clinical-stage biotechnology company that develops modular proteins, antibodies, and bispecifics to achieve therapeutic outcomes for autoimmune and inflammatory diseases. The company trades on NASDAQ under the ticker symbol, PAND. In 2021, Merck & Co., Inc., fully acquired Pandion for USD 60 per share in cash with a total equity value of USD 1.85 billion. 

In 2020, the company announced the pricing of its IPO of 7,500,000 shares at USD 18 per share for gross proceeds of USD 135 million. In 2020, Pandion Therapeutics, Inc. raised USD 80 million in Series B funding co-led by new investors Access Biotechnology and Boxer Capital, with participation from other new investors. 

Pandion Therapeutics offers TALON™, a drug design and discovery platform to create a suite of therapies for rebalancing the immune system. Using the TALON (Therapeutic Autoimmune reguLatOry proteiN) platform, the company develops novel PD-1 agonists and other programs for systemic and tissue-targeted immune control. Pandion’s pipeline includes PT101, the drug candidate which is an interleukin 2 (IL-2) mutein Fc fusion protein therapy designed to potently and selectively expand regulatory T cells for the treatment of autoimmune diseases focused on the gut, liver, skin, kidneys, and pancreas. PT101 is currently in Phase 1a clinical trial. The TALON platform is also used for other drug candidates. 

The company recorded a revenue of USD 2 million for three months ended March 2020.   

The company plans on utilizing the Series B funding to continue developing several pipeline products and expanding the team and infrastructure.

## Funding rounds

- Series B, Mar 23, 2020, $40M — OrbiMed Advisors, Versant Ventures, Polaris Partners, SR One, Access Industries, Roche Venture Fund, RA Capital Management, Boxer Capital, Mission Biocapital, JDRF T1D Fund
- Series A, Jan 18, 2018, $58M — Versant Ventures, Polaris Partners, SR One, Roche Venture Fund, Mission Biocapital

## Investors

- Versant Ventures (https://capitalatlas.ai/funds/versant-ventures) — Series A, Series B
- Polaris Partners (https://capitalatlas.ai/funds/polaris-partners) — Series A, Series B
- SR One (https://capitalatlas.ai/funds/sr-one) — Series A, Series B
- Roche Venture Fund (https://capitalatlas.ai/funds/roche-venture-fund) — Series A, Series B
- Mission Biocapital (https://capitalatlas.ai/funds/mission-biocapital) — Series A, Series B
- OrbiMed Advisors (https://capitalatlas.ai/funds/orbimed-advisors) — Series B
- Access Industries (https://capitalatlas.ai/funds/access-industries) — Series B
- RA Capital Management (https://capitalatlas.ai/funds/ra-capital-management) — Series B
- Boxer Capital (https://capitalatlas.ai/funds/boxer-capital) — Series B
- JDRF T1D Fund (https://capitalatlas.ai/funds/jdrf-t1d-fund) — Series B