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    Home»Deals & Transactions»Merck to buy drug developer Pandion Therapeutics for $1.85 billion
    Deals & Transactions

    Merck to buy drug developer Pandion Therapeutics for $1.85 billion

    February 28, 20211 Min Read
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    FILE PHOTO: The Merck logo is seen at a gate to the Merck & Co campus in Linden, New Jersey, U.S., July 12, 2018. REUTERS/Brendan McDermid/File Photo GLOBAL BUSINESS WEEK AHEAD
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    Merck & Co Inc said on Thursday it would buy drug developer Pandion Therapeutics Inc for about $1.85 billion in cash, to expand its portfolio of drugs that target autoimmune diseases.

    The $60-per-share deal represents about 134% premium to Pandion’s closing price on Wednesday.

    Pandion’s lead drug candidate, PT101, last month met its main goals of safety and tolerability in an early-stage trial in patients with autoimmune diseases.

    Read more at: Reuters

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