BIND Therapeutics, a biotechnology company developing targeted and programmable therapeutics called ACCURINS, has announced the resignations of Amir Nashat, managing partner at Polaris Partners, and Amy Schulman, venture partner at Polaris Partners and chief executive officer at Arsia Therapeutics and Lyndra Therapeutics, from BIND’s board of directors.
The resignations of Nashat and Schulman are not a result of any dispute with the company and were tendered in order to avoid a potential conflict of interest related to BIND’s current review of financial and strategic alternatives. In conjunction with these resignations, BIND’s board of directors has withdrawn Dr. Nashat as a nominee for election to the board at the company’s annual meeting of stockholders to be held on June 21, 2016 and has reduced the size of the Board from nine to seven members.
BIND Therapeutics initiated voluntary Chapter 11 bankruptcy protection on May 1, 2016 and is actively evaluating potential financial and strategic alternatives, which may include raising additional capital, licensing or divesting some of the Company’s proprietary technologies, or selling the company.
BIND plans to continue its development and collaboration activities in accordance with its current innovative medicines strategy throughout the Chapter 11 process.