Pfizer and BIND Extend Accurins Alliance

Pfizer and BIND Therapeutics, Inc. have extended the terms of their global collaboration through March 2016 to create Accurins that optimize two of Pfizer’s targeted oncology drugs. The collaboration was established in April 2013 under which Bind employs its nanomedicine platform to develop targeted and programmable therapeutics known as Accurins.
 
Pfizer has the exclusive option to pursue development and commercialization of the Accurins selected, at which point Pfizer will have responsibility for development and commercialization of the selected Accurins. Both companies will work together on preclinical research. BIND has the potential to receive as much as $88.5 million based on specified development and regulatory milestones, as well as $110 million for specified commercial events and royalties for each Accurin commercialized.
 
“We have made a great deal of progress in this collaboration and have shown promising preclinical results with Accurins containing each of the two compounds,” said Andrew Hirsch, president and chief executive officer, BIND Therapeutics. “Pfizer has been a terrific partner and the results to date have provided evidence that we are on track with the collaboration goals. We mutually agreed to extend the research terms for the second of the two selected compounds in order to ensure it is fully evaluated and well-positioned to enter IND-enabling studies.”
 
“Our Accurin development programs are active and of high interest to both companies,” said Robert Abraham, Ph.D., senior vice president and chief scientific officer, Oncology Research Unit, Pfizer. “We are pleased to continue working with BIND under terms of the amended agreement.”