Amgen (AMGN 0.78%) is licensing BIND Biosciences' Medicinal Nanoengineering platform called Accurins to make its cancer drug better.
The technology surrounds a drug with a protective coat, which allows the drug to avoid detection by the immune system. Targeting ligands that can deliver the nanoparticle to a specific tissue are attached to the protective coat. The nanoparticles also allow for controlled-release of the drug once it gets to the tumor. Amgen plans to combine the technology with an undisclosed proprietary kinase inhibitor to attack solid tumors.
BIND and Amgen will work together on preclinical development, and then Amgen will be responsible for the clinical development and commercialization of the drug.
Amgen could owe BIND up to $46.5 million in up-front and development milestone payments. Once the drug is approved, there's potential for an additional $134 million in regulatory and sales milestone payments for the first tumor type. Bind is also eligible for additional payments and tiered royalties on future sales if the drug makes it to market.
