BIND Therapeutics has amended its development and commercialization collaboration with Amgen to extend Amgen’s exercise option by six months. The global collaboration entails the development and commercialization of a kinase inhibitor nanomedicine to treat a range of solid tumors based on BIND’s Accurin platform for targeted and programmable nanomedicines and Amgen’s undisclosed proprietary kinase inhibitor.
Amgen’s option period to select a novel Accurin candidate for further development has been extended to July 7, 2014 to allow for completion of the research plan. Both companies are working on preclinical development and Amgen will assume responsibility for any future development and commercialization. BIND is eligible to receive upfront and development milestone payments totaling $46.5 million, and an additional $134 million in regulatory and sales milestones, as well as royalties on future sales.