Merrimack regains MM-398

Merrimack Pharmaceuticals Inc. (Cambridge, Mass.) reacquired rights in Europe and Asia to develop and commercialize cancer candidate MM-398 from PharmaEngine Inc. (Taipei, Taiwan). PharmaEngine, which will retain Taiwanese rights, had rights to the nanoparticle liposome formulation of irinotecan from Hermes Biosciences Inc., which was acquired by Merrimack in 2009. PharmaEngine will receive $10 million up front and is eligible for up to $210 million in milestones, plus tiered royalties. ...