Date: 2016-07-26
Type of information: Company acquisition
Acquired company: BIND Therapeutics (USA - MA)
Acquiring company: Pfizer (USA - NY)
Amount: $40 million
Terms: * On July 26, 2016, BIND Therapeutics announced that Pfizer prevailed at a Section 363 auction to purchase substantially all of BIND’s assets. The winning bid of $40 million, subject to U.S. Bankruptcy Court approval for which a hearing is scheduled to take place on July 27, 2016, was selected as the highest and best bid. NanoCarrier Co., Ltd. will serve as the back-up bidder. Additional terms will be disclosed upon Court approval.
BIND initiated voluntary Chapter 11 bankruptcy protection on May 1, 2016, and conducted a sale of assets, pursuant to Section 363 of the Bankruptcy Code, during an auction held on July 25 and 26, 2016.
Details: Bind's product candidates are based on proprietary polymeric nanoparticles called Accurins®, which are engineered to target specific cells and tissues in the body at sites of disease.
Related: Cancer - Oncology
