Amgen, BIND Biosciences, Inc. Ink $180 Million Tumor Treatment Deal
Published: Jan 08, 2013
Under the terms of the agreement, Amgen will have the exclusive right to pursue development and commercialization of the Accurin kinase inhibitor against solid tumor targets to be selected by Amgen. Both companies will work together on preclinical development and Amgen will assume responsibility for future development and commercialization. BIND could receive up-front and development milestone payments totaling $46.5 million, and BIND could receive up to an additional $134 million in regulatory and sales milestone payments for the first therapeutic indication and is eligible for additional payments. BIND will receive tiered royalties on potential future sales.
“BIND’s technology is well aligned with Amgen’s focus on the development of highly targeted and selective oncology therapeutics,” said Joseph P. Miletich, M.D., Ph.D., senior vice president of Research and Development at Amgen. “We look forward to collaborating with the BIND scientific team to leverage this technology to address unmet medical needs of cancer patients.”
“We are pleased to collaborate with Amgen, an industry leader with a proven track record of success in oncology, on extending our technology into molecularly targeted drugs, such as kinase inhibitors,” said Scott Minick, CEO of BIND. “Through this collaboration, Amgen has recognized the unique potential of BIND’s Medicinal Nanoengineering platform to create programmable oncology therapeutics that combine molecular and tissue targeting for unsurpassed selectivity and activity.”
About BIND Biosciences
BIND Biosciences is a clinical-stage biopharmaceutical company developing a new class of highly selective targeted and programmable therapeutics called AccurinsTM. BIND’s Medicinal Nanoengineering® platform enables the design, engineering and manufacturing of Accurins with unprecedented control over drug properties to maximize trafficking to disease sites, dramatically enhancing efficacy while minimizing toxicities.
BIND is developing a pipeline of novel Accurins that hold extraordinary potential to become best-in-class drugs and improve patient outcomes in the areas of oncology, inflammatory diseases and cardiovascular disorders. BIND's lead product candidate, BIND-014, is currently in Phase 1 clinical testing in cancer patients and is designed to selectively target a surface protein upregulated in a broad range of solid tumors. BIND also develops Accurins in collaboration with pharmaceutical and biotechnology partners to enable promising pipeline candidates to achieve their full potential and to utilize selective targeting to transform the performance of important existing drug products.
BIND is backed by leading investors, Polaris Venture Partners, Flagship Ventures, ARCH Venture Partners, NanoDimension, DHK Investments, EndeavourVision and Rusnano. BIND was founded on proprietary technology from the laboratories of two leaders in the field of nanomedicine, Professors Robert Langer, David H. Koch Institute Professor of the Massachusetts Institute of Technology (MIT) and Omid Farokhzad, Associate Professor of Harvard Medical School.
For more information, please visit the company's web site at www.bindbio.com.
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Kathryn Morris, 845-635-9828