A merrimachemical company is using a combination of cost-cutting and innovation to lower costs and eliminate duplication.
The Merrimacher Group, a small pharmaceutical company based in Portland, Oregon, recently applied for federal grants to reduce its acquisition costs by 50 percent.
The company, which was founded in 2004 and currently has more than 1,100 employees, says it wants to focus on innovation, including new drugs, vaccines and treatments for rare diseases.
It is one of a handful of companies that have been awarded federal grants by the National Institutes of Health.
The money goes toward researching new drugs and cures, but not new technologies, such as new cancer treatments.
The grants allow Merrimachems to explore new ideas and find new ways to use existing technologies, and can also help the company identify opportunities for partnerships with other companies.
The $9.5 million Merrimachys application received $1.6 million in funding from the NIH’s National Center for Innovative Drug Development.
The company says its drug, called the Myriad Antigen Therapy, or MATS, will be approved for use by the end of 2019.
It was previously approved by the Food and Drug Administration in August.
The government awards grants for research and development projects that benefit the American people and are related to biomedical, medical or pharmaceutical research.
The Merrimakys application was part of the National Institute of Allergy and Infectious Diseases grant program, which supports biomedical research.
The money was also used to help build a new, 10,000-square-foot office, including a new laboratory and a meeting and conference center, at the company’s headquarters in Portland.
The new office will be used to develop MATS drugs, according to the company.
The goal of the Merrimashys new office is to focus more on clinical trials, the company says.
It says the company is looking to use the office for “targeted development of innovative clinical trials and for development of novel therapeutics, including novel therapeutic strategies and vaccines.”
In addition, the Merromashys company is seeking a grant from the National Center on Aging to expand its medical training program.