The Life Sciences IPOs + Capital Markets team advised Goldman Sachs & Co. LLC and the other underwriters of Pandion Therapeutics, Inc.’s (Nasdaq: PAND) upsized initial public offering of 7,500,000 shares of its common stock at a public offering price of $18.00 per share. The gross proceeds were $135 million, before deducting underwriting discounts and commissions and offering expenses payable by Pandion. In addition, Pandion granted the underwriters an option for a period of 30 days to purchase up to 1,125,000 additional shares of common stock at the public offering price, less underwriting discounts and commissions.
Pandion Therapeutics is developing novel therapeutics designed to address the unmet needs of patients suffering from autoimmune diseases. Pandion’s TALON (Therapeutic Autoimmune reguLatOry proteiN) drug design and discovery platform enables the company to create a pipeline of product candidates using immunomodulatory effector modules, with the ability to also combine an effector module with a tissue-targeted tether module in a bifunctional format. Pandion’s lead product candidate, PT101, is currently in a Phase 1a clinical trial.
The Goodwin team was led by Robert Puopolo, Seo Salimi, Will Magioncalda, Tom Schaad, and Kathryn Weston, and included Julie Tibbets, Alex Varond, Elizabeth Mulkey, Duncan Greenhalgh, Olivia Uitto, Roger Cohen, Madison Marcus, Andrew Hess, Sarah Bock, Brittany McCants, Janet Andolina, and Matt Dunay.