Amgen in $180 mill deal with BIND; Priaxon accord with GlaxoSmithKline

BIND Biosciences, a US clinical stage investor backed company, and Amgen (Nasdaq: AMNG), the world’s largest biotech firm, have announced an agreement for the worldwide development and commercialization of a kinase inhibitor nanomedicine.

With a disclosed value of $180 million for the first therapeutic indication, the exclusive license agreement is the first major partnership focused on applying a nanomedicine technology to a molecularly targeted drug, in this case a novel kinase inhibitor.

Under the terms of the agreement, Amgen will have the exclusive right to pursue development and commercialization of the Accurin kinase inhibitor against solid tumor targets to be selected by Amgen. Both companies will work together on preclinical development and Amgen will assume responsibility for future development and commercialization. BIND could receive up-front and development milestone payments totaling $46.5 million, and up to an additional $134 million in regulatory and sales milestone payments for the first therapeutic indication and is eligible for additional payments. BIND will receive tiered royalties on potential future sales.