Merrimack Pharmaceuticals Initiates Enrollment in a Phase 2 Study of MM-093 in Patients with Rheumatoid Arthritis

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Merrimack Pharmaceuticals Initiates Enrollment in a Phase 2 Study of

MM-093 in Patients with Rheumatoid Arthritis

Thursday March 3, 7:00 am ET

CAMBRIDGE, Mass., March 3 /PRNewswire/ -- Merrimack Pharmaceuticals,

Inc. today announced the initiation of a Phase 2 study of the safety

and efficacy of its immunomodulator MM-093 in patients suffering from

rheumatoid arthritis (RA). MM-093, Merrimack's lead product, is a

recombinant version of human alpha-fetoprotein (AFP).

The randomized, double-blind, placebo-controlled, Phase 2 study is

being conducted at approximately 40 centers throughout the United

States. The goal of the study is to examine the safety and efficacy of

MM-093 in approximately 240 rheumatoid arthritis patients. Each patient

will receive a once-weekly, subcutaneous injection of placebo or MM-093

for 24 weeks and then be followed for an additional 4 weeks. There are

4 arms in the study: Approximately 60 patients in each arm will receive

one of three different doses of MM-093 or placebo. In addition to

determining the safety of MM-093, patients will be evaluated for

changes in the signs and symptoms of their disease using the ACR

criteria, the clinical standard for drug development in rheumatoid

arthritis.

" In December, 2004 we completed the treatment and evaluation of

patients with RA in a pilot study in which patients received MM-093 or

placebo weekly for 12 weeks, " said Dr. Hamilton, Vice President,

Clinical and Regulatory Affairs. " Both the safety profile and efficacy

results of the pilot study provided us with a strong rationale for

moving forward with the clinical program for RA. The Phase 2 study will

aid Merrimack in designing future clinical studies in rheumatoid

arthritis, as well as studies in patient populations with other

autoimmune diseases. The development of MM-093 will be focused on

diseases such as rheumatoid arthritis, psoriasis, and multiple

sclerosis -- areas in which published and proprietary pre-clinical data

provide a compelling rationale for its use, and in which significant

unmet medical needs still exist. "

Merrimack has the exclusive worldwide license to a strong intellectual

property estate around MM-093. The portfolio surrounding MM-093

includes eleven issued patents and a number of pending applications,

both in the U.S. and internationally, which cover composition of

matter, production methods and therapeutic and non-therapeutic uses of

the drug.

Merrimack Pharmaceuticals, Inc. is a biotechnology company focused on

the discovery and development of novel treatments for diseases in the

areas of autoimmune disease and cancer. Its lead compound, MM-093 is

currently in clinical development to treat patients with rheumatoid

arthritis. MM-093 is an investigational drug and has not been approved

by the U.S. Food and Drug Administration or any international

regulatory agency. The company's proprietary Network Biology discovery

platform, developed with the help of leading scientists from MIT and

Harvard, enables the high throughput profiling of protein networks as a

basis for improved validation, lead identification and speed in the

development of innovative, effective and safe therapeutics. Merrimack

is a privately held company based in Cambridge, Massachusetts. For

additional information, please visit http://www.merrimackpharma.com.

Contact:

F. Simmon, Ph.D., COO

617-441-1027