Finance Watch: Pandion's $55m Series A Funds Localized Bispecifics For Autoimmune Diseases
Pandion, led by former Pfizer SVP Anthony Coyle, launched in 2017 to exploit immuno-oncology advances for autoimmune and inflammatory diseases; the firm's Series A follows a record-breaking year for biopharma venture capital. In public company financings, AveXis and others seek cash to fuel R&D.
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Merck & Co. reached a deal to acquire the developer of targeted immune modulators for $1.85bn. Pandion CEO Kakkar talked to Scrip about the acquisition.
Aspen Neuroscience, Pandion and iTeos raised $70m, $80m and $125m, respectively. Also, Glide Healthcare closed a €416m ($450m) fund; ElevateBio, Kallyope and SutroVax reveal VC mega-rounds; and Dragonfly adds new funding to its partnering proceeds.
Highlights from the past year's financings include BeiGene's $800m follow-on offering in the US and $903m Hong Kong IPO, Moderna's $560m Series G round and $604m IPO, and Allogene's $300m Series A and $373m IPO.