BIND Thera and Amgen end their Accurin collaboration

3 July 2014

US clinical stage drug developer BIND Therapeutics (Nasdaq: BIND) saw its shares plunge 15.8% to $10.84 in after-hours trading on Wednesday, after the company revealed that partner Amgen (Nasdaq: AMGN) would not be exercising its option to develop an Accurin incorporating the Amgen therapeutic payload, under a $180 million collaboration entered last year.

“The goal of this research collaboration was to optimize a specific therapeutic payload from Amgen. Despite achieving the objective of high tumor concentrations, the results were not sufficiently compelling to proceed forward and both collaborators have agreed that the program will not be continued,” said Scott Minick, chief executive of BIND Therapeutics.

Will continue with AstraZeneca, Pfizer and Roche collaborations

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