Merrimack Pharmaceuticals Closes on Series D Equity Financing

Merrimack Pharmaceuticals, announced that it has completed equity and debt financings totaling $37.3 million. The financing was comprised of $28.3 million of Series D Preferred Stock and a $9 million venture loan. Returning equity investors include Sorenson Development, Inc. and affiliates, Unilever Technology Ventures Fund B.V., and Wharton Biotechnology Partners. New equity investors include, among others, WT Investment Advisors. The venture loan was provided by Palo Alto, Calif.-based Hercules Technology Growth Capital. Since inception, Merrimack has raised approximately $78 million of equity capital, and $87 million of total capital.

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