Merrimack Files S-1, But Life-Science IPO Market Far From Ironclad
This article was originally published in The Pink Sheet Daily
The cancer drug maker aims to raise as much as $172.5 million and bring liquidity to investors who have poured in more than $250 million.
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Given the early-stage nature of the collaboration, Aveo will receive $15 million upfront for preclinical antibodies targeting the RON receptor.
In a worldwide deal excluding Asia, the two companies will split both revenues and development costs 50/50 in North America and Europe.
Privately held Merrimack gets $60 million upfront for MM-121, a monoclonal antibody in Phase I/II.