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Merck to buy Cambridge autoimmune drug developer Pandion for $1.85 billion By Eric Pfanner Bloomberg,Updated February 25, 2021, 8:42 a.m. Email to a Friend The Merck corporate headquarters in New Jersey.Seth Wenig/Associated Press/File 2018 (Bloomberg) Merck & Co. agreed to acquire Pandion Therapeutics Inc., a biotechnology company developing therapies for autoimmune diseases, for $1.85 billion. The agreement, worth $60 per share in cash, is at more than double the Cambridge, Massachusetts-based company’s closing price Wednesday. Pandion’s potential treatment for ulcerative colitis and other autoimmune diseases, known as PT101, has completed a Phase 1a clinical trial that achieved its primary objective of safety and tolerability, the companies said in a statement.

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