Renamed BIND Therapeutics strikes deal with Pfizer

Written By Unknown on Rabu, 03 April 2013 | 22.26

Cambridge-based biopharmaceutical company BIND Therapeutics said today it has entered into a global collaboration agreement with Pfizer Inc. to develop and commercialize its Accurins therapies.

Under terms of the agreement, Pfizer will have the exclusive option to pursue development and commercialization of the Accurins selected by its team. Both companies will work together on preclinical research, and if Pfizer exercises its option, Pfizer will have responsibility for developing and commercializing the selected Accurins.

BIND said it could receive upfront and development milestone payments totaling nearly $50 million and about $160 million in regulatory and sales milestones payments for each Accurin commercialized, as well as tiered royalties on potential future sales.

The collaboration aims to employ BIND's Medicinal Nanoengineering platform to impart tissue and cellular targeting capabilities to molecularly targeted drugs, officials said.

The company formally announced its name change this week from BIND Biosciences. BIND added its lead product candidate, BIND-014, is currently entering a second clinical testing period in cancer patients.

BIND also hired Dr. Gregory I. Berk as the company's new chief medical officer. Berk previously served as chief medical officer of Intellikine, a clinical stage company developing small molecule drugs targeting signal transduction networks.


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