Leading the Way in Life Science Technologies

GEN Exclusives

More »

GEN News Highlights

More »
May 9, 2011

Merrimack Pays PharmaEngine $10M to Regain Rights to Liposomal Irinotecan

  • Merrimack Pharmaceuticals has regained nearly full worldwide rights to the Phase II-stage nanoliposomal irinotecan candidate MM-398, from its previous EU and Asian licensee, PharmaEngine. Under terms of the deal Taiwanese specialty pharmaceuticals firm PharmaEngine will receive a $10 million up-front payment from Merrimack and also retain rights to MM-398 in Taiwan.

    The firms will continue to collaborate on development of the drug. PharmaEngine could also earn up to $210 million in development, regulatory, and sales milestones, plus royalties on sales of MM-398 in its previously licensed European and Asian territories.  

    Merrimack says it now plans to move MM-398 into Phase III trials for indications including gemcitabine-refractory pancreatic cancer. A Phase II study in gastric cancer has been completed, and a Phase II pancreatic cancer trial is ongoing, along with a Phase I study in colorectal cancer patients. MM-398 is separately being evaluated in a Phase I glioma trial under an investigator-sponsored IND at the University of California, San Francisco.

    “We believe that unifying the development strategy of MM-398 is critical as we plan to move the program forward into late-stage clinical trials,” comments Robert Mulroy, Merrimack CEO. “The PharmaEngine team has laid a great foundation for Phase III development and commercialization by conducting clinical trials across multiple indications.”



Related content

Be sure to take the GEN Poll

CRISPR Patent Controversy

Do you think recently released email from a former Broad Institute scientist to Jennifer Doudna will expedite a final legal decision on who owns the CRISPR patent?

More »