AstraZeneca, BIND Enter $200M+ Cancer Nanomedicine Agreement
BIND Therapeutics and AstraZeneca today announced they are working together to develop and commercialize a targeted and programmable cancer nanomedicine. The companies are collaborating to complete IND-enabling studies of an Accurin™ from BIND’s Medicinal Nanoengineering® platform, based on a molecularly targeted kinase inhibitor developed and owned by AstraZeneca.
Through this agreement, BIND will lead manufacturing during the development phase, while AstraZeneca will have the exclusive right to lead development and commercialization. BIND could receive combined up-front and preapproval milestone payments totaling $69 million, more than $130 million in regulatory and sales milestones and other payments, plus tiered royalties on future sales.
“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,” Scott Minick, BIND president and CEO, said in a statement. “Due to the advanced nature of this program, we now plan to move an Accurin with optimized therapeutic properties quickly into product development.”
BIND and AstraZeneca are basing their collaborative work on data suggesting nanomedicines selectively accumulate in diseased tissues and cells, leading to higher drug concentrations at the tumor site and reduced exposure to healthy tissues.
“AstraZeneca believes that targeted therapies, which specifically address the underlying mechanisms of disease, are the future of personalized cancer treatment,” said Susan Galbraith, who heads the firm’s Oncology Innovative Medicines Unit. “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 as an approach to cancer treatment. We view BIND’s targeted nanomedicines as a leading technology in this field.”
The AstraZeneca deal marks BIND’s third global partnership with big pharma in four months. Earlier this month, BIND announced a $210 million deal it made with Pfizer to develop and commercialize Accurins, which have shown effectiveness against inflammatory diseases, cardiovascular diseases, and cancer.