Merck Terminates Midstage Asset from $1.9B Pandion Acquisition over Lack of Clinical Benefit
Merck has discontinued a midstage (Phase 2) asset that it acquired in its 2021 $1.85–$1.9 billion purchase of Pandion Therapeutics, due to insufficient clinical benefit observed in trials1.
Despite favorable safety and some efficacy indications at six months, Merck decided the therapeutic outcome was not strong enough to warrant continued development of the asset1.
Pandion was originally acquired for its pipeline of immune modulators; the termination highlights the risk of large biotech acquisitions not always delivering on clinical promise1.