Pfizer Invests In Bind Therapeutics

Pfizer and Bind Therapeutics will collaborate on the development of Bind’s Accurin therapeutics. The Cambridge, Mass.-based biotech firm uses “medicinal nanoengineering” to create drug-carrying particles targeted for specific tissues and cells. For an exclusive option to develop and commercialize selected Accurins, Pfizer will pay about $50 million in up-front and development fees along with another $160 million for achieving regulatory and sales milestones for each Accurin. Bind also has a $180 million deal with Amgen for a kinase inhibitor. Bind’s technology originates from Massachusetts Institute of Technology and Harvard Medical School.