Merrimack Pharmaceuticals announced that, effective immediately, its Board of Directors has appointed Noah G. Levy, of Newtyn Management, LLC and Eric D. Andersen, of Western Standard, LLC to the Board, pursuant to a cooperation agreement. Including Messrs. Levy and Andersen, the Board will nominate five directors for election at the 2019 Annual Meeting of Shareholders, which is scheduled for October 17, 2019. Mr. Levy’s and Mr. Andersen’s funds, Newtyn and Western. Under the agreement Messrs. Levy and Andersen have agreed to waive compensation for their Board service. It also provides that the Board will form a Committee on Strategy and Expenses, chaired by Mr. Levy, that will focus on cost containment, continued NOL safeguarding and milestone payment and shareholder distribution maximization. As part of the cooperation agreement, both Newtyn and Western have agreed to vote for all five of Merrimack’s nominees for election at the 2019 Annual Meeting. Newtyn’s and Western’s voting and other commitments under the cooperation agreement generally are evergreen with certain limited exceptions. Mr. Andersen has been a managing member /portfolio manager at Western Standard, LLC, since June 2008. Mr. Levy has been a managing member and portfolio manager at Newtyn Management, LLC, since June 2011.