Merrimack Pharmaceuticals, Inc. (MACK)

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Merrimack Pharmaceuticals (MACK)

33rd Annual Cowen & Co. Health Care Conference

March 6, 2013; 08:00 a.m. ET


Bob Mulroy - Chief Executive Officer

Eric Schmidt - Cowen & Co.


Unidentified Participant


Eric Schmidt

Good morning everyone and welcome to Cowen’s 33rd Annual Health Care Conference. I’m glad you could make it to day three of our sessions and we are glad to have with us to kick off the day, Merrimack Pharmaceuticals. I think this is the first time Merrimack is going to be able to present as a public company at the Cowen conference, so a special thanks to the team for making the long trip over across the Charles.

We are delighted to have with us the company’s Chief Executive Officer, Bob Mulroy. He’s going to speak for about 25 minutes and give you a company overview. If we have time, we can take a couple of questions here in this room and then there’s a break out session next door after its over.

Bob Mulroy

Great. Well, good morning everyone and thank you for making it. It looks like the forecast is gloom out there for the weather. A special thanks to Eric Schmidt, the whole Cowen team for their support, not just these past few years as we’ve grown the company and developed.

So what I’d like to do is give you a quick snapshot, maybe five or 10 minutes of an overview of the entire company and then focus maybe 15 minutes on sort of two more specific issues to do with 398, one of our leads that has some Phase III data coming out this year and then 121, which also has a series of very important Phase II’s that are finishing this year. Just focus on some important attributes of those as the data gets closer to fruition.

So first off let me start with, I will talk about the future, so better beware, and let me start off with the end, which is sort of this year is going to be a very sort of important year for Merrimack in terms of the milestones we have.

We have a whole series of clinical studies that will be finishing. Two indications in Phase III monotherapy and combination therapy for a therapeutic called 398. A series of trials with 121 in breast cancer and lung cancer, they will be rapping up this year; and then early next year a whole series of additional studies in ovarian cancer and breast cancer for 121 to be finishing.

We are expecting to make progress on a number of business fronts in terms of licensing many of our compounds out in territories around the world, but we have additional new products that will be entering in the clinic this year, particularly a therapeutic called 310 and diagnostic called 929, which are important strategically to the company and we’ll also be working importantly on some supply chain and commercial development activates this year to get ready for potentially a filing on 398, with the data that will be emerging in the Phase III this year.

So lets sit back very quickly. The company started as a Systems Biology Company out of MIT in Harvard and over our 10 years we have used that Systems Biology platform to generate a platform of molecular diagnostics and we want to call micro-anatomy diagnostics to understand cancer in each patient more specifically. With that ability to stratify patients on a molecular or systems basis, we’ve also built an entire portfolio of systems based or network based therapeutics that are targeted to specific network mechanisms.

With those diagnostics and those mechanisms, together we’ve also built a company capable of delivering all the way from the discovery of the new targets, the new networks, the new ideas, the engineering drugs and designing drugs, manufacturing drugs putting them in to the clinic and we are looking to expand out all the way into delivering those commercially in the U.S. and Europe.

The whole process is something where we are looking to create fully integrated regiments in cancer diagnostics and the combinations of drugs that are optimal for certain patient populations, that’s our business model, that’s where we are headed in the future. We called that integrated solutions. So with that, we are building a fully integrated cancer company.

As I said, the core of the company is Systems Biology. What is Systems Biology in life? Well essentially, what we’ve done in the world of science is that study molecular biology, to try and take individual molecules like a specific gene or a specific protein and give it a job description.

In reality biology works by something called Systems Dynamics. It’s the interactions of the components that give rise to the functions of the system. So studying interaction of components is really what Systems Biology is about and if you get the interactions, you are really talking about Systems Dynamics, which is an engineering term that is to how the force of interactions against – of different molecules we get to function of the system; and after we study, its very different in the field of microbiology.

In order to do it, we really started with the ability to create a foundation of, both biology, computing and engineering to understand these interactions. What we do essentially is our core geography.

We started with a technology that allows us to build large datasets that study dynamics, the interactions of many, many different molecules in the system, where its borrowing its dataset for us into our computer models and translating these massive interactions in the systems into models that are not (inaudible) weather system models in Washington that predict the weather, the type of aerodynamic models that Bowing or Airbus would use to build their airplane.

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