Navigation Links
Merrimack Pharmaceuticals Raises $60 Million in Private Financing
Date:6/10/2008

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
'/>"/>

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

0

GOOD

Page: 1 2

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:
*Name:
*Comment:
*Email:
(Date:3/17/2010)... Inc. (OTC Bulletin Board: CSBR), a company engaged in the development of advanced ... today announced its financial results for the third  fiscal quarter ended January ... Company,s Form 10-Q at www.championsbiotechnology.com . , ... ... ...
(Date:3/17/2010)... for LinkedIn and Dunkin Donuts, takeovers of Mead Johnson Nutrition and Harley-Davidson, and a Cold Stone Creamery sale are among the 10 deals predicted by columnists ... ... ... ... ...
(Date:3/17/2010)... REDWOOD CITY, Calif. , March 17 Ingenuity Systems, the ... its new distributor of IPA® in Greece , Turkey and ... understand the complex biological and chemical systems at the core of life science ... ... ...
(Date:3/17/2010)... a leading provider of next generation business intelligence software, ... version of its groundbreaking data visualization technology ( www.centrifugesystems.com ... ... McLean, VA (PRWEB) March 17, 2010 -- Centrifuge ... business intelligence software, today announced the availability of Centrifuge ...
Breaking Biology Technology:Champions Biotechnology Reports Fiscal 2010 Third Quarter Financial Results 2Champions Biotechnology Reports Fiscal 2010 Third Quarter Financial Results 3Champions Biotechnology Reports Fiscal 2010 Third Quarter Financial Results 4Champions Biotechnology Reports Fiscal 2010 Third Quarter Financial Results 5Champions Biotechnology Reports Fiscal 2010 Third Quarter Financial Results 6Champions Biotechnology Reports Fiscal 2010 Third Quarter Financial Results 7Champions Biotechnology Reports Fiscal 2010 Third Quarter Financial Results 8From Donuts To Hogs - Which Brand Icons Might Be In Play? 2From Donuts To Hogs - Which Brand Icons Might Be In Play? 3From Donuts To Hogs - Which Brand Icons Might Be In Play? 4From Donuts To Hogs - Which Brand Icons Might Be In Play? 5From Donuts To Hogs - Which Brand Icons Might Be In Play? 6From Donuts To Hogs - Which Brand Icons Might Be In Play? 7From Donuts To Hogs - Which Brand Icons Might Be In Play? 8Ingenuity Systems Announces New Distributor for Greece, Turkey and the Balkans 2Ingenuity Systems Announces New Distributor for Greece, Turkey and the Balkans 3Centrifuge Releases New Data Visualization Software 2Centrifuge Releases New Data Visualization Software 3
... SAN DIEGO, Oct. 23 Vical Incorporated,(Nasdaq: ... the company,s independent,and collaborative development programs at the ... 28, and at the BIO Investor Forum in ... Vical researches and develops biopharmaceutical products based ...
... BOSTON, Oct. 23 PAREXEL International,Corporation (Nasdaq: ... announced that Alberto Grignolo, Ph.D., Corporate Vice,President, PAREXEL ... Good Clinical Practice Journal (GCPj). Dr. Grignolo was ... clinical research,which was held October 22, 2008 at ...
... 23, 2008) -- A study seeking possible cancer genes elucidated ... common form of lung cancer lung adenocarcinoma and ... of the Baylor College of Medicine Human Genome Sequencing Center ... the National Human Genome Research Institute. , In the ...
Other Biology Technology:Vical to Present at Upcoming Investor Conferences 2PAREXEL Corporate Vice President Dr. Alberto Grignolo Receives Lifetime Achievement Award From Good Clinical Practice Journal 2PAREXEL Corporate Vice President Dr. Alberto Grignolo Receives Lifetime Achievement Award From Good Clinical Practice Journal 3PAREXEL Corporate Vice President Dr. Alberto Grignolo Receives Lifetime Achievement Award From Good Clinical Practice Journal 4PAREXEL Corporate Vice President Dr. Alberto Grignolo Receives Lifetime Achievement Award From Good Clinical Practice Journal 5Unraveling the genetic picture of lung cancer 2
(Date:3/17/2010)... following press conferences will take place during the March ... held March 15-19, 2010 in the Portland Convention Center. ... charge. Registration information can be found at the end ... ,Monday, March 15, 9:00 a.m., TOPOLOGICAL INSULATORS (session B2) ... topics in condensed matter physics. In specially prepared semiconducting ...
(Date:3/17/2010)... Male pipefishes and their seahorse cousins are the only males ... will never win any Father of The Year awards ... to total neglect, according to new findings from Texas A&M ... Department of Biology, found that the male pipefish can be ... birth, but later it may not choose to make the ...
(Date:3/17/2010)... in French . , Scientists have ... important process for the proper functioning and survival ... pathway of ,cargo, to and from the surface ... can have severe consequences, leading to numerous diseases ... in immune response. Understanding the mechanisms underlying these ...
Breaking Biology News(10 mins):Physics press conferences at next week's American Physical Society March Meeting 2Physics press conferences at next week's American Physical Society March Meeting 3Physics press conferences at next week's American Physical Society March Meeting 4Physics press conferences at next week's American Physical Society March Meeting 5Physics press conferences at next week's American Physical Society March Meeting 6Physics press conferences at next week's American Physical Society March Meeting 7Physics press conferences at next week's American Physical Society March Meeting 8Physics press conferences at next week's American Physical Society March Meeting 9Physics press conferences at next week's American Physical Society March Meeting 10Physics press conferences at next week's American Physical Society March Meeting 11Physics press conferences at next week's American Physical Society March Meeting 12A marine Mr. Mom: Male pipefish gives birth, but some are deadbeat dads, study shows 2Getting turned on 2Getting turned on 3Immucor to Announce Fiscal First Quarter Financial Results on Thursday October 1 2009 57569 1Baucus Bill Integrates Physician Assistants in Health Care Delivery 57564 1Baucus Bill Integrates Physician Assistants in Health Care Delivery 57564 2Anemic Patients With MDS Gain Long Term Benefits From Erythropoietin and Myeloid Growth Factor Hormones 5017 1Anemic Patients With MDS Gain Long Term Benefits From Erythropoietin and Myeloid Growth Factor Hormones 5017 2Anemic Patients With MDS Gain Long Term Benefits From Erythropoietin and Myeloid Growth Factor Hormones 5017 3Anemic Patients With MDS Gain Long Term Benefits From Erythropoietin and Myeloid Growth Factor Hormones 5017 4
... While prescription medications work successfully to cure an ailment ... same drug can cause an adverse reaction or no response ... Sean Cutler, an assistant professor of plant cell biology at ... by studying much simpler organisms like plants. , The ...
... Mustafa alAbsi, Ph.D., and a team of national collaborators ... the National Institutes of Health (NIH) for their research, ... alAbsi is a professor and founding director of ... Medical SchoolDuluth Campus. , The project is among the ...
... percent of American women are overweight, with nearly a third ... of cancer, heart disease and diabetes. Until now, there ... weight gain. , Dr. Nir Barak of Tel ... be a new weight-loss wonder drug. In conjunction with the ...
Other Biology News:Plants can be used to study how and why people respond differently to drugs 2Mustafa al'Absi Ph.D. and national team awarded major NIH grant 2New drug makes weight loss safer 2
Form: Ready to use Applications: Western Blot, ELISA...
ANTI S. GROUP AG:H...
... Bench-Top Open System Chemistry Analyzer for General Chemistries, Specialty Chemistries, QC, Reagent Development, Pharmaceutical Development, ... diode spectrophotometer over 30 user-selectable wavelengths. ... ... ...
Recorder REC-111 single-channel, 1. Category: Chromatography Systems & Accessories, Systems....
Biology Products: