# Merrimack Pharma

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/merrimack-pharma

- Industry: Biotechnology
- Headquarters: Cambridge, US
- Website: www.merrimackpharma.com
- Total disclosed funding: $258M
- Latest round: Series G (Apr 13, 2011)
- Investors on record: 12

## About

Merrimack Pharmaceuticals focuses on developing innovative cancer therapies and human growth hormone treatments, primarily targeting pancreatic cancer with its FDA-approved Onivyde® product and expanding its portfolio into HGH therapies.Founded in 1993, Merrimack Pharmaceuticals is based in Cambridge, US, and specializes in oncology therapies. The company underwent a significant pivot in 2025 towards human growth hormone therapies. Merrimack went public in March 2012, raising USD 100 mn through its IPO, establishing itself as a key player in the pharmaceutical sector. The CEO is Brian Lundquist, alongside Gary Crocker.Merrimack Pharmaceuticals, alongside Allied BioScience, offers oncology therapies and human growth hormone (HGH) therapies. Its flagship product, Onivyde®, is an FDA-approved treatment for metastatic pancreatic cancer, launched in 2015. The company has expanded its focus to include HGH therapies, addressing health needs related to growth and metabolism. Allied BioScience complements this with its SurfaceWise2™ antimicrobial coating technology, serving healthcare facilities, schools, airports, and private consumers across North America, Europe, and Asia.In 2016, Merrimack Pharmaceuticals reported revenue of USD 144.27 mn, while the EBITDA for 2023 was USD -2.04 mn. The company generates revenue through the sale of pharmaceutical products, including Onivyde® and HGH therapies, supported by partnerships with healthcare providers and institutions.Merrimack Pharmaceuticals plans to leverage the USD 100 mn raised in its IPO from March 2012 to support the development and launch of upcoming products in oncology and HGH therapies. The company aims to expand into new markets, focusing on strategic geographic regions in North America, Europe, and Asia by 2025, enhancing its reach and product offerings.

## Funding rounds

- Series G, Apr 13, 2011, $77M — GCM Grosvenor, Jennison Associates, Crocker Ventures, TPG-Axon Capital, WT Investment Advisors Fund
- Series F, Jun 10, 2008, $60M — Credit Suisse, Crocker Ventures
- Series E, Apr 3, 2006, $65M — Sorenson Capital, Farallon Capital Management, Jennison Associates, TPG-Axon Capital, WT Investment Advisors Fund
- Series D, Feb 7, 2005, $28M — Unilever Ventures, WT Investment Advisors Fund
- Series C, May 4, 2004, $28M — Unilever Ventures, Sorenson Capital, GTC BIOTHERAPEUTICS, Wharton Biotechnology Partners, MS Seed Capital

## Investors

- Unilever Ventures (https://capitalatlas.ai/funds/unilever-ventures) — Series C, Series D
- Sorenson Capital (https://capitalatlas.ai/funds/sorenson-capital) — Series C, Series E
- GTC BIOTHERAPEUTICS — Series C
- Wharton Biotechnology Partners — Series C
- MS Seed Capital — Series C
- WT Investment Advisors Fund — Series D, Series E, Series G
- Farallon Capital Management (https://capitalatlas.ai/funds/farallon-capital-management) — Series E
- Jennison Associates — Series E, Series G
- TPG-Axon Capital — Series E, Series G
- Credit Suisse (https://capitalatlas.ai/funds/credit-suisse) — Series F
- Crocker Ventures (https://capitalatlas.ai/funds/crocker-ventures) — Series F, Series G
- GCM Grosvenor — Series G