Pandion Therapeutics (PAND) has filed a preliminary prospectus for a $75M IPO.
The Watertown, MA-based biopharmaceutical firm develops therapies for autoimmune disorders leveraging its TALON protein engineering platform that, it says, enables it to employ a modular approach to create candidates using immunomodulatory effector molecules that act at known control nodes within the immune system.
Lead candidate is PT101, a subcutaneously administered IL-2 mutein Fc fusion protein designed to selectively expand regulatory T cells for the treatment of autoimmune disease. Final data from a Phase 1a study in healthy volunteers should be available in H1 2021.
2019 Financials: Operating Expenses: $23.2M (+111%); Net Loss: ($21.9M) (-101%); Cash Burn: ($13.4M) (-26%).
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