Merrimack Appoints Daryl Drummond, Ph.D. as Head of Research

CAMBRIDGE, Mass., April 17, 2017 /PRNewswire/ -- Merrimack Pharmaceuticals, Inc. (NASDAQ: MACK) today announced that Daryl Drummond, Ph.D. has been appointed Head of Research. Dr. Drummond, an expert and pioneer in the field of nanotherapeutics, has held various leadership roles at Merrimack, including most recently as Vice President of Discovery and Team Leader for Merrimack's early-stage pipeline. Dr. Drummond was also integral in the invention and development of ONIVYDE®, which was recently sold to Ipsen S.A. for up to $1.025 billion.

"Daryl's successful track record of advancing programs from the discovery stage into meaningful therapeutics is exactly the kind of leadership that our research organization needs to move our drug candidates forward and achieve our objective to help cancer patients," said Richard Peters, M.D., Ph.D., President and Chief Executive Officer. "He will oversee a team of scientists who will continue to generate critical data for the promising candidates in our clinical and preclinical pipeline, consisting of engineered antibodies and antibody-directed nanotherapeutics."

Prior to joining Merrimack, Dr. Drummond was Director of Liposome Research and Development at Hermes BioSciences, a biotech company that was acquired by Merrimack in 2009.  Prior to that, he completed his post-doctorate in the laboratory of Demetrios Papahadjopoulos at California Pacific Medical Center in San Francisco.  Dr. Drummond received a Ph.D. in Biochemistry from Indiana University, with an emphasis on membrane biochemistry and biophysics, and completed an Executive Training Program in Leadership and Strategy in Pharmaceuticals and Biotech from Harvard Business School.

About Merrimack

Merrimack is a biopharmaceutical company based in Cambridge, Massachusetts that is outthinking cancer to ensure that patients and their families live fulfilling lives. Our mission is to transform cancer care through the smart design and development of targeted solutions based on the deep understanding of cancer pathways and biological markers. All our product candidates, including three in clinical studies and several others in preclinical development, fit into our strategy of 1) understanding the biological problems we are trying to solve, 2) designing specific solutions and 3) developing those solutions for biomarker-selected patients. This three-pronged strategy seeks to ensure optimal patient outcomes. For more information, please visit Merrimack's website at www.merrimack.com.

Forward Looking Statements

Any statements in this press release about future expectations, plans and prospects for Merrimack constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, as amended. Actual results may differ materially from those indicated by such forward-looking statements. Merrimack anticipates that subsequent events and developments will cause its views to change. However, while Merrimack may elect to update these forward-looking statements at some point in the future, Merrimack specifically disclaims any obligation to do so.

Contact:

Geoffrey Grande, CFA
617-441-7602
ggrande@merrimack.com

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SOURCE Merrimack Pharmaceuticals, Inc.