Date: 2010-06-29
Type of information: Series C financing round
Company: Bind Biosciences (USA - MA)
Investors: DHK Investment (India) Polaris Venture Partners (USA - MA) Flagship Ventures (USA - MA) ARCH Venture Partners (USA - IL) Endeavour Vision (Switzerland) NanoDimension (USA - CA) new private investors
Amount: $23.4 million
Funding type: series C financing round
Planned used: The proceeds of this financing will be used to advance Bind’s preclinical product pipeline to clinical trials and expand its product development capabilities. The lead program, BIND-014, targets a surface protein upregulated in solid tumors and is planned to enter clinical development in 2H 2010. These funds will also be used to advance a second product candidate toward the clinic. Bind Biosciences was founded in 2006 by two pioneers in the field of therapeutic targeted nanoparticles, Dr. Robert Langer, MIT David H. Koch Institute Professor, and Dr. Omid Farokhzad, Harvard Medical School Associate Professor. The company licensed a large patent estate on a worldwide exclusive basis from MIT and Brigham and Women’s Hospital/Harvard Medical School covering the scientific founders’ work in therapeutic targeted nanoparticles. Its proprietary Medicinal Nanoengineering™ platform enables the design, engineering and manufacturing of therapeutic targeted nanoparticles. Medicinal Nanoengineering complements medicinal chemistry to enable predictable, cost effective, and rapid development of breakthrough products with superior efficacy and safety profiles. Bind’s initial product development efforts are in the areas of oncology, cardiovascular disorders, inflammatory disease and RNAi therapeutics.
Others: * On June 29, 2010, Bind Biosciences announced that it has secured a $12.4 Million Series C-1 financing. This financing included all of BIND’s current investors (including Polaris Venture Partners, Flagship Ventures, ARCH Venture Partners, NanoDimension and DHK Investments) as well as a new venture investor, Endeavour Vision, and private investors. * On January 14, 2010, Bind Biosciences announced that it has secured an $11 million Series C financing. The financing was led by DHK Investment, representing David H. Koch, with participation by all existing investors, Polaris Venture Partners, Flagship Ventures, ARCH Venture Partners and NanoDimension, as well as new private investors.
Therapeutic area:
