Finance Watch: Merrimack And LianBio Are Latest To Liquidate As Options Run Out

Synlogic, Rallybio And Others Reveal Workforce Reductions

Restructuring Edition: The financial market is beginning to perk up after a decline in biopharma financings at the end of 2023, but some companies still are struggling to stay afloat after assessing their strategic options, like Merrimack and LianBio, which announced plans to dissolve.

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The pace of new financings seems to be picking up in 2024 after a decline in the fourth quarter of 2023 relative to the last quarter of 2022, but some drug developers still are struggling to raise new funds and are cutting costs or shutting down in response. Merrimack Pharmaceuticals, Inc. and LianBio recently assessed the opportunities remaining in their pipelines and options available to them and found the best path forward was to dissolve their companies and liquidate their assets.

Biomedtracker’s recent report on biopharmaceutical financings in Q4 of 2023 showed a 25.1% drop to $13.1bn raised globally across private and public companies versus $17.5bn raised in Q4 of 2022,...

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