Please login to the form below

Not currently logged in
Email:
Password:

Pfizer set to snap up Bind’s assets for $20m

Biotech approves 'stalking horse' bid from the pharma giant
Bind Therapeutics Accurin technology

Nano-engineering firm Bind Therapeutics has reached a $20m agreement with Pfizer for the purchase of the majority of its assets.

The biotech, which initiated voluntary bankruptcy protection in May, has filed a motion for court approval of Pfizer's cash-in-hand bid, triggering an auction process established under the US Bankruptcy Court.

Should Pfizer be selected as the successful bidder at the auction on 25 July, the pharma giant will gain control of the Bind's Accurin programme with the transaction expected to complete later this year.

The programme uses nano-engineering technology to develop formulations of cancer drugs that selectively seek out diseased tissues and cells, creating safer and more effective medicines.

Pfizer signed a $210m-plus nanomedicines deal with Bind in 2013, seeking to utilise its technology in the move toward the creation of personalised cancer medicines.

Amgen and AstraZeneca also entered into partnerships with the biotech that year, signing $180m and $200m deals, respectively.

The collaboration with Amgen was the first of its kind for Bind, teaming up to apply Accurin's targeted nanoparticle technology to a new version of one of the pharmaceutical company's kinase inhibitor cancer drugs.

Bind's work with AstraZeneca resulted in the Aurora B kinase inhibitor Accurin AZD2811, which became the second Accurin drug to enter clinical development after the company's own oncology candidate BIND-014.

At that time Bind was keen to position its targeted nanomedicines as a strategic technology for the pharmaceutical industry, but suffered badly after releasing mixed results for BIND-014 and filed for bankruptcy in May.

Article by
Rebecca Clifford

6th July 2016

From: Sales

Share

Tags

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
Impetus Digital

Impetus Digital has offered virtual advisory boards, clinical trial investigator consortiums, co-author publication working groups, steering committees, and medical education...

Latest intelligence

Ludovic Helfgott
Novo Nordisk awakens its ‘Sleeping Beauty’
Biopharm emerges from troubled times to hit ‘solid growth’, says executive vice president Ludovic Helfgott...
How will the Tories’ historic win shape the NHS?
Paul Midgley and Oli Hudson, of Wilmington Healthcare, explore the impact of December’s General Election result on 2020 and beyond...
CSR 'Christmas Spirit' 2019
OPEN Health champions CSR over Christmas by giving back to the community and increasing our activities and efforts...

Infographics