 | |
| Company type | Public |
|---|---|
| Nasdaq: MACK Russell Microcap Index component | |
| Industry | Pharmaceuticals |
| Founded | 2000 in Cambridge, Massachusetts |
| Headquarters | , |
Number of employees | 426 (2016) |
| Website | merrimack |
Merrimack Pharmaceuticals, Inc. 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 the European Union the following year.[1][2]
Merrimack was founded by a group of scientists from MIT and Harvard University in 2000.[3]
In 2016, Merrimack had 426 full-time employees, 103 of which had an MD or PhD.[3]
In October 2016, CEO Robert Mulroy resigned and the company announced they would be laying off 20% of its employees.[4] 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.[5]
In January 2017, French pharmaceutical company Ipsen announced they would be purchasing Onivyde from Merrimack for approximately $1 billion.[6]
On November 13, 2018, the statistical programming director Songjiang Wang, received "six months in prison and one year supervised released" after a guilty verdict was handed down to Wang from a United States District Judge in July 2018 for securities fraud and conspiracy to commit securities fraud.[7] Also on December 20, 2019, the United States Securities and Exchange Commission charged Wang with Insider trading.[8]
Merrimack has four drugs in clinical development.
