Merck Enters Definitive Agreement to Acquire Pandion Therapeutics for USD 1.85 Billion | Merck Enters Definitive Agreement to Acquire Pandion Therapeutics for USD 1.85 BillionFinancial Buzz

Merck Enters Definitive Agreement to Acquire Pandion Therapeutics for USD 1.85 Billion

Merck (NYSE: MRK) and Pandion Therapeutics, Inc. (NASDAQ: PAND) have reported entry into a definitive agreement where Merck will acquire Pandion for USD 60 per share in cash or a total equity value of USD 1.85 Billion.  “This acquisition builds upon Merck’s strategy to identify and secure candidates with differentiated and potentially foundational characteristics,” said Dr. Dean Y. Li, president, Merck Research Laboratories. “Pandion has applied its TALON technology to develop a robust pipeline of candidates designed to re-balance the immune response with potential applications across a wide array of autoimmune diseases.”

“Pandion grew out of our founders’ personal and scientific mission to change the way patients living with autoimmune diseases are treated. In just a few years, we have taken that mission from idea to clinical proof of mechanism with PT101, our lead IL-2 mutein. We are proud that Merck has recognized our team’s innovation and drive in creating a pipeline of diverse candidates that activate natural immune regulatory mechanisms and thereby have the potential to achieve better clinical responses for patients,” said Dr. Rahul Kakkar, chief executive officer, Pandion Therapeutics. “We believe Merck is well positioned to bring our novel approach to the millions of those living with autoimmune diseases, and we look forward to seeing these molecules progress in the clinic.”

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