Harris & Harris Group Notes Mersana's Second Milestone Payment in Fleximer ADC
Collaboration With Endo Pharmaceuticals
NEW YORK, Jan. 14, 2014 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc.
(Nasdaq:TINY), an investor in transformative companies enabled by disruptive
science, notes the announcement by portfolio company, Mersana Therapeutics,
Inc., that it has achieved the second preclinical milestone in its
collaboration with Endo Pharmaceuticals. In 2012, Mersana and Endo entered
into a multi-target, oncology-focused partnership to develop next-generation
Fleximer antibody-drug conjugates (ADCs).
The collaboration between Mersana and Endo leverages Mersana's proprietary
conjugation technology, comprised of the Fleximer polymer and a broad array of
customizable linker chemistries for attaching diverse, potent payloads to
antibodies. Under the terms of the agreement, Mersana is responsible for
conducting research and creating Fleximer-ADC development candidates with
antibodies provided by Endo. The rights to these ADCs have been licensed to
Endo in exchange for research funding, milestone payments and royalties on
worldwide net sales of any resulting ADC products.
Mersana's press release may be viewed at
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This press release may contain statements of a forward-looking nature relating
to future events. These forward-looking statements are subject to the inherent
uncertainties in predicting future results and conditions. These statements
reflect the Company's current beliefs, and a number of important factors could
cause actual results to differ materially from those expressed in this press
release.Please see the Company's Annual Report on Form 10-K for the fiscal
year ended December 31, 2012, as well as subsequent filings, filed with the
Securities and Exchange Commission for a more detailed discussion of the risks
and uncertainties associated with the Company's business, including, but not
limited to, the risks and uncertainties associated with venture capital
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undertakes no obligation to update or revise these forward-looking statements
to reflect new events or uncertainties.The references to the websites
www.HHVC.com, www.Facebook.com, and www.mersana.com have been provided as a
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incorporated by reference into this press release.Harris & Harris Group is
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CONTACT: DOUGLAS W. JAMISON
TEL. NO. (212) 582-0900
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