Amgen invests US $180m in cancer drug collaboration
Amgen has agreed to invest up to US $180 million in a global collaboration agreement with BIND Biosciences to develop and commercialize a kinase inhibitor nanomedicine for treating a range of solid tumors.
BIND Biosciences is a clinical-stage biopharmaceutical company that is currently developing a new class of highly selective targeted and programmable therapeutics called Accurins. The collaboration between Amgen and BIND will enable the development of a novel Accurin based on BIND’s platform for targeted and programmable nanomedicines and Amgen’s undisclosed proprietary kinase inhibitor. The aim is to create a kinase inhibitor nanomedicine with optimized therapeutic properties, applying for the first time tissue targeting to molecularly targeted drugs.
“BIND’s technology is well aligned with Amgen’s focus on the development of highly targeted and selective oncology therapeutics. We look forward to collaborating with the BIND scientific team to leverage this technology to address unmet medical needs of cancer patients.”
Joseph P. Miletich, M.D., Ph.D., senior vice president of Research and Development at Amgen.
Under terms of the agreement, 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 US $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.
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