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Baxter and Merrimack Pharmaceuticals Enter into Exclusive Ex-U.S. Licensing Agreement to Develop and Commercialize Novel Cancer Compound MM-398

DEERFIELD, Ill. & CAMBRIDGE, Mass.--(BUSINESS WIRE)--Baxter International Inc. (NYSE:BAX) and Merrimack Pharmaceuticals, Inc. (Nasdaq:MACK) today jointly announced an exclusive license and collaboration agreement for the development and commercialization of MM-398 (nanoliposomal irinotecan injection), also known as ''nal-IRI.'' Through the agreement, Baxter gains exclusive commercialization rights for all potential indications of MM-398 outside the United States and Taiwan, and Merrimack retains commercialization rights in the United States; the rights in Taiwan are held separately.