Date: 2014-07-02
Type of information: Termination of an agreement
Compound: kinase inhibitor nanomedicine
Company: Amgen (USA - CA) Bind Biosciences (USA - MA)
Therapeutic area: Cancer - Oncology
Type agreement: collaboration development commercialisation
Action mechanism: kinase inhibitor
Disease: solid tumors
Details: * On January 8, 2013, Bind Biosciences, a clinical-stage biopharmaceutical company developing a new class of highly selective targeted and programmable therapeutics called Accurins™, announced that it has entered into a global collaboration agreement with Amgen 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 collaboration aims to create a kinase inhibitor nanomedicine with optimized therapeutic properties, applying for the first time tissue targeting to molecularly targeted drugs. Under the 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.
Financial terms: Bind Biosciences could receive up-front and development milestone payments totaling $46.5 million, and Bind Biosciences 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 Biosciences will receive tiered royalties on potential future sales.
Latest news: * On July 2, 2014, Bind Therapeutics announced the completion of its collaborative research program with Amgen Inc. originally entered into in January 2013. Amgen and BIND have notified each other that they will not be exercising their options to develop an Accurin incorporating the Amgen therapeutic payload. * On December 12, 2013, Bind Therapeutics announced that it has amended its development and commercialization collaboration agreement with Amgen to extend the period during which Amgen may exercise its option by six months. Under the agreement, Amgen had twelve months from the effective date to exercise its option to select a novel Accurin candidate for further development. The option period under the amended collaboration agreement has now been extended to July 7, 2014 to allow for completion of the research plan. None of the other terms of the original agreement have been changed.
