BIND Therapeutics in $50M deal with Pfizer, plus $160M per Accurins milestone

US clinical stage, investor backed biopharma company BIND Therapeutics has entered into a global collaboration with global drug behemoth Pfizer (NYSE: PFE). to develop and commercialize its therapeutics known as Accurins utilizing select small-molecule targeted therapies. The collaboration aims to employ BIND’s Medicinal Nanoengineering platform to impart tissue and cellular targeting capabilities to molecularly targeted drugs.

Under the terms of the agreement, Pfizer will have the exclusive option to pursue development and commercialization of the Accurins selected by its team. Both companies will work together on preclinical research and, if Pfizer exercises its option, the world’s largest drugmaker will have responsibility for the development and commercialization of the selected Accurins. BIND could receive up-front and development milestone payments totaling about $50 million and around $160 million in regulatory and sales milestone payments for each Accurin commercialized, as well as tiered royalties on potential future sales.

“Pfizer, a global leader in the development of innovative molecularly targeted therapies, is an outstanding partner and this agreement demonstrates the potential of our platform to create targeted Accurins with optimized therapeutic properties,” said Scott Minick, president and chief executive of BIND, adding: “This is our second collaboration focused on developing novel Accurins based on BIND’s platform for targeted and programmable therapeutics and further validates the importance of targeted nanomedicines as a strategic technology for the pharmaceutical industry.”