The feds are continuing to unravel a scheme to reap illegal profits off Merck’s $1.9 billion acquisition of Pandion Therapeutics, announcing new charges for the brother of one of the men first accused in July.
KENILWORTH, N.J.--(BUSINESS WIRE)--Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced the successful completion of the cash tender offer, through a subsidiary, for all of the outstanding shares of common stock of Pandion Therapeutics, Inc. (Nasdaq: PAND) at a purchase price of $60 per share. As of the tender offer expiration, 27,770,123 shares of common stock of Pandion were validly tendered and not withdrawn from the tender offer, representing approximately 88.6% percent of the outstanding common stock of Pandion on a fully diluted basis. All such shares have been accepted for payment in accordance with the terms of the tender offer, and Merck expects to promptly pay for such shares.
GENEVA--(BUSINESS WIRE)--Selexis SA, a JSR Life Sciences company, announced today that it has signed a service agreement with Pandion Therapeutics, Inc., to advance the development of Pandion’s PT627, a systemically-acting PD-1 agonist antibody for the potential treatment of autoimmune and inflammatory diseases. Under the terms of the agreement, Pandion will utilize Selexis’ proprietary SUREtechnology Platform™ to rapidly develop the research cell banks (RCBs) necessary to advance PT627 to human trials.
Selexis SA, a JSR Life Sciences company, has signed a service agreement with Pandion Therapeutics, Inc. to advance the development of Pandion’s PT627, a systemically-acting PD-1 agonist antibody for the potential treatment of autoimmune and inflammatory diseases. Pandion will leverage Selexis’ proprietary SUREtechnology Platform to rapidly develop the research cell banks (RCBs) necessary to advance PT627 to human trials.
It’s almost become cliché for biotech executives to talk about the importance of keeping your options open and being prepared to go all the way. But when it comes to negotiating with a giant like Merck, a little patience can indeed go a long way.
If you want Merck to snap you for nearly $2 billion, all you have to do is play hard ball.
KENILWORTH, N.J & WATERTOWN, Mass.--(BUSINESS WIRE)--Merck (NYSE: MRK), known as MSD outside the United States and Canada, and Pandion Therapeutics, Inc. (Nasdaq: PAND) today announced that the companies have entered into a definitive agreement, under which Merck, through a subsidiary, will acquire Pandion, a clinical-stage biotechnology company developing novel therapeutics designed to address the unmet needs of patients living with autoimmune diseases, for $60 per share in cash. This represents an approximate total equity value of $1.85 billion.
WATERTOWN, Mass., Feb. 22, 2021 (GLOBE NEWSWIRE) -- Pandion Therapeutics, Inc. (Nasdaq: PAND), a clinical-stage biotechnology company developing novel therapeutics designed to address the unmet needs of patients living with autoimmune diseases, today presented preclinical data on PT001, the Company’s tissue-tethered PD-1 agonist, at the Network for Pancreatic Organ Donors with Diabetes (nPOD) 13th Annual Scientific Meeting. The research, done in collaboration with St Vincent’s Institute of Medical Research in Australia and funded by JDRF and the JDRF T1D Fund, showed that PT001 treatment delayed the onset of hyperglycemia in a mouse model of Type 1 diabetes.
WATERTOWN, Mass., Jan. 04, 2021 (GLOBE NEWSWIRE) -- Pandion Therapeutics (Nasdaq: PAND) today announced positive top-line data from its Phase 1a single-dose, healthy volunteer clinical trial, demonstrating proof of mechanism of PT101, an engineered IL-2 mutein fused to a protein backbone, in development for ulcerative colitis (UC), systemic lupus erythematosus (SLE), and other autoimmune diseases.
WATERTOWN, Mass., Oct. 28, 2020 (GLOBE NEWSWIRE) -- Pandion Therapeutics, Inc. (Nasdaq: PAND), a clinical-stage biotechnology company developing novel therapeutics designed to address the unmet needs of patients living with autoimmune diseases, today announced the presentation of preclinical data highlighting the potential of its modular biologics pipeline for the treatment of autoimmune diseases at the Federation of Clinical Immunology Societies (FOCIS) 2020 virtual annual meeting.