This segment focused on the research and development of novel therapeutics for autoimmune and inflammatory diseases. Pandion Therapeutics utilized a modular protein therapeutic platform to develop candidates like PT101, an IL-2 mutein, and PT627, a PD-1 agonist. Research and development activities included preclinical studies, clinical trials (Phase 1a for PT101), and collaborations with partners like Astellas Pharma Inc. The goal was to address unmet needs in autoimmune diseases, potentially improving patient outcomes by modulating the immune system. The company's market positioning was as a clinical-stage biotechnology company with innovative approaches to immunomodulation. Future opportunities included expanding the pipeline and advancing clinical programs. Regulatory and clinical aspects were crucial, with a focus on FDA approval and clinical validation. Partnerships with other pharmaceutical companies were key to expanding research and development capabilities.