By Anna Prior
Merrimack Pharmaceuticals Inc. (MACK) and Sanofi (SNY) have
terminated their license and collaboration agreement for the
development and commercialization of Merrimack's antibody MM-121 to
treat different forms of cancer.
Merrimack shares slumped 15% to $6.70 in recent after-hours
trading.
Sanofi will continue to fund the existing MM-121 Phase 2 program
for the next six months, said Merrimack, adding that the final
study completed through this collaboration is a test of MM-121 in
combination with paclitaxel in patients with triple negative breast
cancer.
Merrimack plans to look for other strategic partnership
opportunities as it continues to develop MM-121, said Chief
Executive Robert Mulroy, noting that the company's next step
includes discussing Phase 2 data and potential registration paths
with the U.S. Food and Drug Administration.
In October, Merrimack said a Phase 2 study of the antibody to
treat ovarian cancer didn't meet the primary endpoint of
progression free survival in the overall population. The company
was studying MM-121 in combination with paclitaxel versus
paclitaxel alone in patients with platinum-resistant or
platinum-refractory advanced ovarian cancers.
Write to Anna Prior at anna.prior@wsj.com
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