Accurins developer BIND Therapeutics recently announced that it has extended its collaboration with Pfizer.
The companies announced an extension of the terms of their global collaboration to create Accurins that optimize the therapeutic potential of two molecularly targeted oncology drugs in Pfizer’s pipeline.
The companies’ original collaboration, worth up to $210 million, was established in April 2013, under which Pfizer has the exclusive option to pursue development and commercialization of Accurins selected. The companies will work together on preclinical research, and if Pfizer exercises its option, it will be responsible for development and commercialization. The timeline for Pfizer to exercise its option to acquire the exclusive license for the first program remains September 2015, but the companies have agreed to an extension of the timeline for the second program through March 2016.
“We have made a great deal of progress in this collaboration and have shown promising preclinical results with Accurins containing each of the two compounds,” said Andrew Hirsch, president and chief executive officer, BIND. “Pfizer has been a terrific partner and the results to date have provided evidence that we are on track with the collaboration goals. We mutually agreed to extend the research terms for the second of the two selected compounds in order to ensure it is fully evaluated and well-positioned to enter IND-enabling studies.”
BIND is leveraging its Medicinal Nanoengineering platform to develop a pipeline of Accurins, its novel targeted therapeutics designed to increase the concentration and duration of therapeutic payloads at disease site, while reducing exposure to healthy tissue.
“Our Accurin development programs are active and of high interest of both companies,” said Robert Abraham, PhD, Senior Vice President and Chief Scientific Officer, Oncology Research Unit, Pfizer. “We are pleased to continue working with BIND under terms of the amended agreement.”
BIND’s collaboration with Pfizer has provided the company with $5 million to date. BIND received $4 million upfront, and $1 million in preclinical development milestone. The company has the potential to receive an additional $88.5 million in milestone payments, up to $110 million for specified commercial events, and royalties in the low single to high single digit percentages on potential future sales of each Accurin commercialized.
Pfizer is one of the five biopharma giants that BIND has signed deals to develop Accurins with. Amgen, AstraZeneca, Merck and Roche have also entered collaborations with the company.
Source: BIND Therapeutics, Inc.
Last updated: 4/3/15; 1:25pm EST