Pandion Therapeutics, a biotechnology platform company developing therapeutics to achieve localized immunomodulation to treat autoimmune and inflammatory disease, has received an investment from the JDRF T1D Fund.
The financing will enable the company to launch a type 1 diabetes (T1D)-focused program leveraging its technology platform and pipeline. Terms of the private financing were not disclosed.
JDRF T1D Fund is a venture philanthropy fund exclusively devoted to finding and funding the best type 1 diabetes commercial opportunities. This is their first investment in Pandion, which was founded in 2017. In addition to the JDRF T1D Fund, the company is funded by a syndicate of venture investors.
The investment from the JDRF T1D Fund will fund the evaluation of Pandion’s existing molecules for T1D, and in parallel initiate the development of islet-specific tethers to pair with Pandion’s existing immunomodulators for T1D specific drugs.
The company’s bispecific platform combines a powerful immunotherapy and a tissue tether to stop the autoimmune attack. For those living with T1D, especially children, tissue-targeted immunotherapies demonstrate a significant opportunity to provide safer and more powerful chronic-use treatment options.
“Pandion is positioned to shift the paradigm for treating inflammatory and autoimmune diseases by developing therapeutic antibodies that act at the local site of disease, offering the potential for significantly improved therapeutic options beyond systemic immunosuppressive treatments,” said Anthony Coyle, Ph.D., president and CEO of Pandion Therapeutics.
Since launching in December 2016 with $32 million of seed funding from JDRF, the T1D Fund now manages approximately $70 million of committed capital. The fund has invested in 12 companies focused on developing life-changing solutions for T1D.
(Source: JDRF T1D Fund)
Filed Under: Drug Discovery
