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Merrimack Raises $77M in Private Financing

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Merrimack Pharmaceuticals this week said that it has raised $77 million in a Series G private financing.

The firm, which is developing cancer therapeutics and companion molecular diagnostics, said that it would use the funds to support its pipeline of cancer therapeutics.

Investors in the round included Credit Suisse First Boston Next Fund, Crocker Ventures, funds advised by Fred Alger Management, funds advised by Noonday Asset Management, Jennison Associates, TPG-Axon Capital, and WT Investment Advisors Fund.

Cambridge, Mass.-based Merrimack is using its own systems biology platform to discover and develop new drugs and molecular diagnostics.

The Scan

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In Science this week: pair of mutations in one gene uncovered in brothers with short stature and immunodeficiency, and more.