Bind could be eligible for US$200m in payments through Accurin deal
AstraZeneca is to pay Bind Therapeutics up to US$200m to develop a cancer nanomedicine using the US biotech company’s nanotechnology drug delivery system.
Cambridge, Massachusetts-based Bind Therapeutics’ novel approach to cancer treatment uses special nanoparticles called Accurins to selectively target tumour cells rather than healthy tissue.
The company has already signed similar deals with Amgen and Pfizer.
Under the terms of the agreement with AstraZeneca, Bind could receive upfront and pre-approval milestone payments of $69m, and more than $130m in regulatory and sales milestones and other payments. It will also be entitled to royalties on future sales.
Due to the advanced nature of this programme, we now plan to move an Accurin with optimised therapeutic properties quickly into product development
The two firms will work together to complete Investigational New Drug-enabling studies of the leading Accurin, identified from a previously-completed feasibility programme. AstraZeneca will then have exclusive development and commercialisation rights, while Bind will lead manufacturing during the development phase.
‘We are excited to grow this collaboration with AstraZeneca, a leading global biopharmaceutical company committed to developing innovative medicines for patients,’ said Scott Minick, President and CEO of Bind. ‘One year ago, Bind started several feasibility projects with major pharmaceutical companies. Our collaboration with AstraZeneca is the first one completed and had very successful results. Due to the advanced nature of this programme, we now plan to move an Accurin with optimised therapeutic properties quickly into product development.’
Susan Galbraith, Head of AstraZeneca’s Oncology Innovative Medicines Unit, added: ‘AstraZeneca believes targeted therapies that specifically address the underlying mechanisms of disease are the future of personalised cancer treatment.
‘Our oncology teams are actively exploring a range of platforms to deliver targeted therapies, with a strategic focus on unlocking the significant potential of nanoparticles in cancer treatment. We view Bind’s targeted nanomedicines as a leading technology in this field.’