Merrimack Pharmaceuticals

Merrimack Pharmaceuticals
Industry Pharmaceuticals
Founded 2000 in Cambridge, Massachusetts
Headquarters Cambridge, Massachusetts, United States
Number of employees
 426 (2016)
Website www.merrimack.com

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.

References

  1. ↑ "Investors - Merrimack".
  2. 1 2 "Merrimack - Annual Report".
  3. ↑ Jamerson, Joshua (3 October 2016). "Merrimack Pharmaceuticals Cuts Jobs; CEO Resigns Amid Restructuring Effort" – via Wall Street Journal.
  4. ↑ "Merrimack - Current Report".
  5. ↑ "Ipsen to buy some Merrimack assets for about $1 billion". 9 January 2017 – via Reuters.
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