Merrimack acquires European and Asian rights to nanoliposomal irinotecan

Merrimack Pharmaceuticals has acquired from PharmaEngine the European and Asian rights to the cancer drug, MM-398 (a nanoliposomal formulation of irinotecan, also known as PEP02), in a deal re-structure that will see the latter receive $220 million in upfront and milestone payments in addition to royalties.