AstraZeneca to buy cancer nanotech for $200 million
Bind Therapeutics, the Massachusetts, US-based specialist, could receive up to $200 million from British-based AstraZeneca to develop its novel way of targeting cancer therapy.
The company uses special nanoparticles as a mode of drug delivery to selectively target tumour cells and not healthy tissue.
Bind is eligible under the deal for up-front payments of $69 million, with over $130 million payable at regulatory and sales milestones among other payments. Bind will also get royalties on sales if the novel cancer drug being developed wins marketing approval.
“AstraZeneca believes that targeted therapies which 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.”
Susan Galbraith, head of oncology innovative medicines unit, AstraZeneca.
Pascal Soriot, AstraZeneca’s recently installed chief executive, appears to be looking to more advanced science to develop his company’s pipeline. The pharma giant last month agreed to pay $240 million to Moderna Therapeutics, a specialist in the manipulation of RNA.
Don't miss your daily pharmaphorum news.
SUBSCRIBE free here.