Autoimmune disease biotech Pandion Therapeutics files for a $75 million IPO

Pandion Therapeutics, a Phase 1 biotech developing engineered T cells for autoimmune diseases, filed on Friday with the SEC to raise up to $75 million in an initial public offering.

The company's lead candidate, PT101, is a combination of our interleukin-2 mutein effector module with a protein backbone designed to selectively expand regulatory T cells without activating proinflammatory cells. The company is initially developing PT101 for moderate-to-severe ulcerative colitis and is currently conducting a Phase 1a trial with final data expected in the 1H21. 

The Watertown, MA-based company was founded in 2017 and booked $1 million in revenue for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol PAND. Pandion Therapeutics filed confidentially on May 22, 2020. Goldman Sachs, Morgan Stanley, SVB Leerink, and BMO Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.

The article Autoimmune disease biotech Pandion Therapeutics files for a $75 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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