Navigation Links
Merrimack Pharmaceuticals Raises $60 Million in Private Financing

Funds provide resources to advance Merrimack's robust pipeline of biologics

targeting autoimmune disease and cancer

CAMBRIDGE, Mass., June 10 /PRNewswire/ -- Merrimack Pharmaceuticals, Inc., a biotechnology company focused on the discovery and development of novel treatments for autoimmune disease and cancer, today announced that it has raised $60 million in a Series F private equity financing.

Existing and new investors participated in the financing including Credit Suisse First Boston Next Fund, Inc., Crocker Ventures, HNI Holdings, Limited, funds advised by Noonday Asset Management, L.P., TPG-Axon Capital, and WT Investment Advisors Fund LP.

Proceeds from the financing will be used to advance Merrimack's proprietary pipeline of biologic therapies targeting autoimmune disease and cancer. The Company's lead product, MM-093, is currently in a Phase 2 study in rheumatoid arthritis and a pilot study in patients with autoimmune uveitis. Results from the two studies are expected later this year.

MM-121, the Company's second product and the industry's first Network Biology derived therapeutic, is expected to enter Phase 1 trials later this year. The Company is also advancing a set of innovative, antibody therapies targeting solid tumors through pre-clinical studies and plans to file an IND on its third product in early 2009.

"Our goal is to continue building shareholder value by advancing a robust pipeline and by investing in our early stage programs," said Mr. Robert Mulroy, President & CEO. "This financing provides us with the strategic resources to advance our lead programs while further validating the discovery and development efforts generated out of our Network Biology platform."

Merrimack Pharmaceuticals, Inc., is a biotechnology company focused on the discovery, design and development of novel treatments for diseases in the areas of autoimmunity and cancer. Its lead compound, MM-093, is currently in clinical development to treat patients with rheumatoid arthritis or with autoimmune uveitis. MM-093 is an investigational drug and has not been approved by the U.S. Food and Drug Administration or any international regulatory agency. The company's proprietary Network Biology discovery platform, developed with the help of leading scientists from MIT and Harvard, enables the high throughput profiling of protein networks as a basis for improved validation, lead identification and speed in the development of innovative and effective therapeutics. Merrimack is a privately-held company based in Cambridge, Massachusetts. For additional information, please visit

Contact: Kathleen Petrozzelli, Senior Manager, Corporate Communications,


SOURCE Merrimack Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Merrimack Pharmaceuticals Announces the Addition of Robert Gay to its Board of Directors
2. Vion Pharmaceuticals Pays Interest on 7.75% Convertible Senior Notes
3. China Biopharmaceuticals Holdings Announces Second Quarter 2007 Financial Results
4. Vion Pharmaceuticals Completes Accrual of 85 Patients to its Pivotal Phase II Trial of Cloretazine(R) (VNP40101M) in Elderly AML
5. XTL Biopharmaceuticals Announces Financial Results for the Six Months Ended June 30, 2007
6. Cadence Pharmaceuticals Reports Second Quarter 2007 Financial Results
7. Nabi Biopharmaceuticals to Present at Upcoming Industry Conferences
8. Anadys Pharmaceuticals Appoints Steve Worland, Ph.D. as President and Chief Executive Officer
9. Poniard Pharmaceuticals Announces Participation in Upcoming Conferences
10. NovaQuest Advances Virtual Development Model With Strategic Investment in TOPIGEN Pharmaceuticals
11. Drug Royalty Corporation (DRC) Announces Acquisition Regarding PEG-INTRON(R) From Enzon Pharmaceuticals, Inc. (ENZN)
Post Your Comments:
(Date:11/25/2015)... November 25, 2015 Studies reveal ... human plaque and pave the way for more effective treatment ... cats     --> ... diagnosed health problems in cats, yet relatively little was understood ... collaborative studies have been conducted by researchers from the WALTHAM ...
(Date:11/25/2015)... 25, 2015 Orexigen® Therapeutics, Inc. (Nasdaq: ... a fireside chat discussion at the Piper Jaffray 27th ... . The discussion is scheduled for Wednesday, December 2, ... .  A replay will be available for 14 days ... , Julie NormartVP, Corporate Communications and Business Development , ...
(Date:11/24/2015)... 2015 Cepheid (NASDAQ: CPHD ) today ... following conference, and invited investors to participate via webcast. ...      Tuesday, December 1, 2015 at 11.00 a.m. Eastern Time ...      Tuesday, December 1, 2015 at 11.00 a.m. Eastern Time ... New York, NY      Tuesday, December 1, 2015 ...
(Date:11/24/2015)... 24, 2015 /PRNewswire/ - Aeterna Zentaris Inc. (NASDAQ:  AEZS) (TSX: ... behalf of the Toronto Stock Exchange, confirms that as ... no corporate developments that would cause the recent movements ... --> About Aeterna Zentaris Inc. ... --> Aeterna Zentaris is a specialty biopharmaceutical company ...
Breaking Biology Technology:
(Date:11/12/2015)... 11, 2015   Growing need for low-cost, ... has been paving the way for use of ... discrete analytes in clinical, agricultural, environmental, food and ... used in medical applications, however, their adoption is ... to continuous emphasis on improving product quality and ...
(Date:11/10/2015)... Nov. 10, 2015 About ... that helps to identify and verify the identity ... considered as the secure and accurate method of ... a particular individual because each individual,s signature is ... especially when dynamic signature of an individual is ...
(Date:11/4/2015)... ALBANY, New York , November 4, 2015 /PRNewswire/ ... According to a new market report published by Transparency ... Size, Share, Growth, Trends and Forecast 2015 - 2022", ... value of US$ 30.3 bn by 2022. The market ... during the forecast period from 2015 to 2022. Rising ...
Breaking Biology News(10 mins):