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Biopharmaceutical company: Merrimack Pharmaceuticals, Inc. (MACK) (1993 – )

Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) was founded in 1993 and is headquartered in Cambridge, Massachusetts. It is a clinical-stage biopharmaceutical company targeting cancer defined by biomarkers.

Merrimack Pharmaceuticals

Merrimack Pharmaceuticals, Inc. (MACK):

Merrimack Pharmaceuticals is a pharmaceutical company based in Cambridge, Massachusetts, focusing on the development of drugs for the treatment of cancer. Merrimack’s first FDA-approved drug, Onivyde (liposomal encapsulated irinotecan for the treatment of pancreatic adenocarcinoma) was approved in 2015; Onivyde was approved for use in the European Union the following year.

Merrimack Pharmaceuticals is developing an antibody-directed nanotherapy MM-310, which is in phase I clinical trials for the treatment of solid tumors.

Merrimack Pharmaceuticals’ preclinical product candidates include MM-401, an agonistic antibody targeting a novel immune tumor target; MM-201, a stable agonist-Fc fusion protein targeting death receptors 4 and 5.

Merrimack Pharmaceuticals has a cooperation and licensing agreement with Ipsen SA .

Merrimack Pharmaceuticals, Inc. (MACK) History:

  • Merrimack was founded in 2000 by a team of scientists from the Massachusetts Institute of Technology and Harvard University.
  • In 2016, Merrimack had 426 full-time employees, of which 103 had MD or PhD.
  • In October 2016, CEO Robert Mulroy resigned and the company announced that it would lay off 20% of its employees.
  • In January 2017, interim CEO Gary Crocker resigned, and the board of directors appointed Richard Peters as president and CEO. Peters previously worked at Sanofi and taught at Harvard University.
  • In January 2017, French pharmaceutical company Ipsen announced that it would acquire Onivyde from Merrimack for approximately US$1 billion.
  • On November 13, 2018, Songjiang Wang, director of statistical planning, was convicted by a judge of the U.S. District Court for securities fraud and conspiracy. On December 20, 2019, the US Securities and Exchange Commission accused Wang of insider trading.

Merrimack Pharmaceuticals, Inc. (MACK) investment:

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