Losses at Merrion Pharmaceuticals widened last year as revenue fell, but the company said it had signed a number of new agreements.

The firm recorded a net loss for 2010 of €2.5 million, compared with €1.6 million a year earlier. Revenues fell from €6.3 million in 2009 to almost €4.7 million last year as the company completed some product development work. Research and development spending was also down.

However, the company said it had signed a number of agreements in the final months of 2010 which it said “significantly” expanded its partnered pipeline.