Merck acquires newly public Watertown biotech for $1.85B
February 25, 2021 at 16:02 PM EST
Life sciences giant Merck is buying Pandion Therapeutics, the autoimmune disorder-focused biotech that went public last July in one of the largest IPOs of 2020, for $1.85 billion in stock. Pandion's stock price nearly doubled upon the news of the Thursday morning announcement.
