Cambridge, MA-based drug developer Merrimack Pharmaceuticals said today that it has paid Taiwan-based PharmaEngine $10 million upfront for the rights to develop and commercialize one of its drugs in Europe and Asia. Merrimack could pay another $210 million in development, regulatory, and sales milestones and royalties tied to MM-398, a treatment for gastric, colorectal, and pancreatic cancer that was originally developed by Hermes BioSciences, which was acquired by Merrimack in 2009. Merrimack raised $77 million in a Series G financing last month.
Author: Erin Kutz
Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.
View all posts by Erin Kutz
