BIND, Amgen ink agreement for development of a kinase inhibitor nanomedicine
BIND Biosciences, a clinical-stage biopharmaceutical company developing a new class of highly selective targeted and programmable therapeutics called Accurins, has entered into a global collaboration agreement with Amgen, a biotech based in Thousand Oaks, Calif., to develop and commercialize a kinase inhibitor nanomedicine for treating a range of solid tumors.
The collaboration will develop a novel Accurin based on BIND's platform for targeted and programmable nanomedicines and Amgen's undisclosed proprietary kinase inhibitor. The pair will aim to create a kinase inhibitor nanomedicine with optimized therapeutic properties, applying for the first time tissue targeting to molecularly targeted drugs.
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 R&D at Amgen. "We look forward to collaborating with the BIND scientific team to leverage this technology to address unmet medical needs of cancer patients."
Scott Minick, CEO of BIND, said, "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. 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."