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Pandion Therapeutics soars 132% after Merck agrees to buy the biotech for $1.85 billion

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Pandion Therapeutics soars 132% after Merck agrees to buy the biotech for $1.85 billion
Kenneth C. Frazier
Merck & Co. CEO Kenneth C. Frazier

Stephanie Keith / Stringer / Getty Pictures


Merck sparked a 132% surge in Pandion Therapeutics on Thursday after the pharmaceutical extensive agreed to acquire the biotech firm for $1.85 billion.

Early Newspaper

Pandion is a clinical-stage biotechnology company that’s increasing therapeutics for sufferers residing with autoimmune diseases. Pandion’s lead candidate, PT101, done a Fragment 1a trial earlier this year and is a likely medication for ulcerative colitis.

Merck will initiate a fragile provide thru a subsidiary to acquire all noteworthy shares of Pandion for $60 per part. Shares of Pandion closed at $25.63 on Wednesday. The completion of the acquisition would require at the least a majority of Pandion shareholders tendering their shares to Merck. 

“Pandion has applied its TALON expertise to create a sturdy pipeline of candidates designed to re-stability the immune response with ability capabilities all over a extensive fluctuate of autoimmune diseases,” stated Dr. Dean Y. Li, president of Merck Be taught Laboratories. 

The transaction is anticipated to shut in the first half of of 2021. 

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Pandion Therapeutics soars 132% after Merck agrees to buy the biotech for $1.85 billion

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