Pandion Therapeutics, Inc., a Cambridge, MA-based clinical-stage, biotechnology company developing modular protein therapeutics for autoimmune disease, closed an $80m Series B financing.
The round was led by Access Biotechnology and Boxer Capital with participation from RA Capital and OrbiMed and existing investors Polaris Partners, Versant Ventures, Roche Venture Fund, SR One, JDRF T1D Fund and BioInnovation Capital. In conjunction with the funding, Dan Becker, M.D., Ph.D, Principal, Access Biotechnology and Christopher Fuglesang, Ph.D, J.D., Co-Founder and Managing Director of Boxer Capital will be joining the Pandion Board of Directors.
The company intends to use the funds for the continued development of multiple product candidates in its pipeline, including lead clinical-stage program, PT101, a novel interleukin 2 (IL-2) mutein Fc fusion protein, which is currently in Phase 1 clinical development; bringing a second program into the clinic; broadening its modular drug design platform, and for expansion of the team and infrastructure.
Led by Rahul Kakkar, M.D., Chief Executive Officer, Pandion Therapeutics is developing modular biologics for autoimmune regulation that are designed to achieve lasting therapeutic outcomes for patients with autoimmune and inflammatory diseases. The company is advancing its lead drug candidate, PT101, an IL-2 mutein Fc fusion protein that preferentially expands regulatory T cells, as well as a pipeline of systemic immune modulators and tissue-targeted therapeutics focused on the gut, liver, skin, kidneys, and pancreas.