BIND Therapeutics and AstraZeneca have signed global development and commercialisation agreement for Accurin cancer nanomedicine.
Accurin is a targeted and programmable cancer nanomedicine from BIND's medicinal nanoengineering platform, based on a molecularly targeted kinase inhibitor developed by AstraZeneca.
BIND president and CEO Scott Minick said that a year ago the company started several feasibility projects with major pharmaceutical companies.
"Our collaboration with AstraZeneca is the first one completed and had very successful results. Due to the advanced nature of this program, we now plan to move an Accurin with optimised therapeutic properties quickly into product development," Minick said.
According to the agreement, the companies will jointly work to complete investigational new drug-enabling studies of the lead Accurin, which was identified in an earlier feasibility programme.
The development and commercialisation will then be led by AstraZeneca, and BIND will lead manufacturing during the development phase.
BIND is eligible for an upfront payment, $69m worth pre-approval milestone payments, over $130m in regulatory and sales milestones and other payments in addition to sales-based royalties.
AstraZeneca oncology innovative medicines unit head Susan Galbraith said; "Our oncology teams are actively exploring a range of platforms to deliver targeted therapies, with a strategic focus on unlocking the significant potential of nanoparticles as an approach to cancer treatment."
Accurins were developed with superior target selectivity and the potential to improve patient outcomes in the areas of oncology, inflammatory diseases and cardiovascular disorders.