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Credit Suisse Banker Takes on CFO Role at Merrimack

Xconomy Boston — 

Cambridge, MA-based Merrimack Pharmaceuticals (NASDAQ: MACK) has named Yasir Al-Wakeel its new chief financial officer and head of corporate development. Al-Wakeel, a former director of Credit Suisse’s healthcare investment banking team, replaces former CFO William Sullivan, who will serve as Merrimack’s head of finance and accounting going forward. He’s become the latest of a number of healthcare bankers have jumped to c-suite biotech roles in the past few years, among them Lorence Kim (Moderna Therapeutics) and Steve Harr (Juno Therapeutics). Merrimack, meanwhile, is prepping to launch its first drug, a pancreatic cancer treatment known as MM-398. The FDA will decide by Oct. 24 whether to approve the drug.