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, 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.