Boston Business Journal - by Kyle Alspach -- Merrimack Pharmaceuticals Inc., a developer of novel cancer treatments, announced that it has raised $77 million in a Series G financing round.
The Cambridge, Mass.-based biopharmaceutical company said the funding will be used to advance its proprietary pipeline of cancer treatments. One treatment is currently in Phase 2 trials while two others are in Phase 1-2 trials, the company said. Another two treatments are expected to enter Phase 1 development this year.
Partnering on one of the Phase 1-2 trial treatments is Sanofi-Aventis (NYSE: SNY), the French drug giant that earlier this month completed its $20.1 billion acquisition of Cambridge, Mass.-based Genzyme Corp.
Merrimack said the Series G round included participation from new and existing investors. The company said its investors include Credit Suisse First Boston Next Fund Inc., Crocker Ventures, Jennison Associates LLC, TPG-Axon Capital and WT Investment Advisors Fund L.P.
