Merrimack Pharmaceuticals
| Industry | Pharmaceuticals |
|---|---|
| Founded | 2000 in Cambridge, Massachusetts |
| Headquarters | , |
Number of employees | 426 (2016) |
| Website | www |
Merrimack Pharmaceuticals is a pharmaceutical company based in Cambridge, Massachusetts, United States. They specialize in developing drugs for the treatment of cancer.
Merrimack's first FDA-approved drug was approved in 2015; Onivyde, a liposome encapsulated version of irinotecan is used for treating pancreatic adenocarcinoma. It was approved for use in Europe the following year.[1]
History
Merrimack was founded by a group of scientists from MIT and Harvard University in 2000.[2]
In 2016, Merrimack had 426 full-time employees, 103 of which had an MD or PhD.[2]
In October 2016, CEO Robert Mulroy resigned and the company announced they would be laying off 20% of its employees.[3] In January 2017, interim CEO Gary Crocker resigned and the board of directors appointed Richard Peters to be president and CEO. Peters previously worked at Sanofi and was a faculty member at Harvard University.[4]
In January 2017, French pharmaceutical company Ipsen announced they would be purchasing Onivyde from Merrimack for approximately $1 billion.[5]
Pipeline
Merrimack has four drugs in clinical development.
- MM-302 – HER2 targeting antibody-drug conjugate
- MM-121 (seribantumab) – anti-HER3 monoclonal antibody
- MM-141 (istiratumab) – IGF-1R and HER3 bispecific monoclonal antibody
- MM-151 – anti-EGFR mixture of monoclonal antibody
References
- ^ "Investors - Merrimack".
- ^ a b "Merrimack - Annual Report".
- ^ Jamerson, Joshua (3 October 2016). "Merrimack Pharmaceuticals Cuts Jobs; CEO Resigns Amid Restructuring Effort" – via Wall Street Journal.
- ^ "Merrimack - Current Report".
- ^ "Ipsen to buy some Merrimack assets for about $1 billion". 9 January 2017 – via Reuters.