Site Sponsors
  • Park Systems - Manufacturer of a complete range of AFM solutions
  • Strem Chemicals - Nanomaterials for R&D
  • Oxford Instruments Nanoanalysis - X-Max Large Area Analytical EDS SDD
Posted in | Nanomedicine | Nanobusiness

There is 1 related live offer.

Save 25% on magneTherm

Merrimack to Develop Specialty Pharmaceuticals for Actavis Using its Nanotechnology Platform

Published on November 27, 2013 at 7:54 AM

Merrimack Pharmaceuticals, Inc., a biopharmaceutical company discovering, developing and preparing to commercialize innovative medicines paired with companion diagnostics for the treatment of cancer, and Actavis plc, a global, integrated specialty pharmaceutical company, today announced that the companies have entered into a collaboration agreement.

Under the agreement, Merrimack will utilize its proprietary nanoliposomal technology platform to develop and manufacture various pharmaceutical products for Actavis to commercialize around the world.

"This opportunity further validates Merrimack's nanoliposomal technology platform, which we have used to develop MM-398 and MM-302, as well as other preclinical programs," stated Edward J. Stewart, Senior Vice President at Merrimack and President of Merrimack Healthcare Solutions. "Under this collaboration, we are able to advance the development of our commercial infrastructure and utilize our manufacturing capacity to generate upside revenue opportunities to help fund our core R&D programs. Actavis is a dynamic company with significant expertise marketing specialty products around the globe, and we think they will be a great partner."

Under the terms of the agreement, Merrimack is eligible to receive up to $15.5 million, including $2.0 million upfront and the remainder in committed near-term funding and development, regulatory and commercial milestone payments related to the first product to come out of the collaboration. In addition, Merrimack will receive a double-digit share of profits on future global sales of any commercialized products derived from the collaboration. Merrimack will be responsible for manufacturing bulk product at its Cambridge, Mass. nanoliposomal manufacturing facility.

"We are pleased to enter this agreement with Merrimack and take advantage of their expertise in nanoliposomal development and manufacturing capabilities," stated Sigurdur O. Olafsson, President of Actavis Pharma. "We are excited to be working with them and their technology, and believe that together we can help meet the needs of patients around the world."

Source: http://www.merrimackpharma.com

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Submit