By Dow Jones Business News,
June 19, 2014, 05:52:00 PM EDT
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 email@example.com
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