Cambridge-based BIND Therapeutics and AstraZeneca said today they have entered into a strategic collaboration to develop and commercialize a cancer nanomedicine.
Under terms of the agreement, the companies will work together to complete new drug-enabling studies of an Accurin, a targeted and programmable cancer nanomedicine from BIND's medicinal nanoengineering platform, based on a molecularly targeted kinase inhibitor developed and owned by AstraZeneca, identified from a previously completed feasibility program.
AstraZeneca will then have the exclusive right to lead development and commercialization and BIND will lead manufacturing during the development phase.
BIND could receive upfront and pre-approval milestone payments totaling $69 million, and more than $130 million in regulatory and sales milestones and other payments as well as tiered single- to double-digit royalties on future sales, officials said.
"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," said BIND President and CEO Scott Minick. "Due to the advanced nature of this program, we now plan to move an Accurin with optimized therapeutic properties quickly into product development."
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