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Codon Devices and Merrimack Pharmaceuticals Inc. Enter Into Research, Development and License Agreement


4/16/2008 7:06:50 AM

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Codon Devices, Inc., the Constructive Biology Company™, announced today that it has entered into a research, development and licensing agreement with Merrimack Pharmaceuticals, Inc., to apply Codon’s proprietary BioLOGIC™ platform to the development of novel therapeutic proteins identified by Merrimack. This agreement marks Codon’s first move into value-added product development in the human therapeutic field.

Codon will apply its BioLOGIC™ platform to rapidly engineer and optimize therapeutic proteins according to specifications designed by Merrimack. Codon’s BioLOGIC™ platform combines sophisticated computational design algorithms, high quality library construction and a novel protein display system particularly suited for engineering functional properties of large proteins such as antibodies. Merrimack is developing a pipeline of products targeting the therapeutic areas of autoimmune disease and cancer.

Under the terms of the agreement, Codon will receive clinical milestone payments and royalties on net sales that may result from Merrimack's development and commercialization of any protein product coming out of the collaboration.

“We are very pleased to have this opportunity to work with Merrimack and apply our cutting-edge synthetic biology technology in an area that significantly impacts human health and well-being,” said Brian M. Baynes, Ph.D., President of Codon Devices. “This agreement reinforces the value of our BioLOGIC™ platform for the rapid development of superior proteins with desired properties in the important field of therapeutic products, in addition to other opportunities for enhanced products in next-generation biosecurity, improved agricultural products and engineered vaccines.”

About Codon Devices

Codon Devices, Inc., based in Cambridge, MA, is a privately-held biotechnology company focused on enabling commercial applications of synthetic biology. Codon Devices' proprietary synthesis and design technologies improve the productivity of its industrial, pharmaceutical and academic customers in a paradigm shift to what the Company calls Constructive Biology™. The Company's focus is on developing and delivering high-value products and design services in a variety of application areas, including engineered gene libraries, engineered cells that produce novel pharmaceuticals, improved vaccines, agricultural products and biorefineries for the production of industrial chemicals and energy. More information about Codon Devices is available at www.codondevices.com.

About Merrimack Pharmaceuticals

Merrimack Pharmaceuticals, Inc., is a biotechnology company focused on the discovery and development of novel treatments for diseases in the areas of autoimmunity and cancer. Its lead compound, MM-093, is currently in clinical development to treat patients with rheumatoid arthritis or with autoimmune uveitis. MM-093 is an investigational drug and has not been approved by the U.S. Food and Drug Administration or any international regulatory agency. The company's proprietary Network Biology discovery platform, developed with the help of leading scientists from MIT and Harvard, enables the high throughput profiling of protein networks as a basis for improved validation, lead identification and speed in the development of innovative, effective and safe therapeutics. Merrimack is a privately-held company based in Cambridge, Massachusetts. For additional information, please visit http://www.merrimackpharma.com.

Contact:

Yates Public Relations for Codon Devices: Kathryn Morris, 845-635-9828 or Merrimack Pharmaceuticals: Kathleen Petrozzelli, 617-441-1043

Source: Codon


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