AstraZeneca collaboration with Bind Therapeutics will focus on cancer nanomedicine
AstraZeneca PLC, the Anglo-Swedish drug maker that recently licensed technology from Moderna Therapeutics Inc. of Cambridge, has now entered an agreement to collaborate on a cancer nanomedicine with another Cambridge company --- Bind Therapeutics.
“Bind could receive upfront and pre-approval milestone payments totaling $69 million, and more than $130 million in regulatory and sales milestones and other payments as well as tiered single to double-digit royalties on future sales,” the two companies said in a press release.
For Bind, this is its third global partnership with a big pharma company in four months. Amgen and Pfizer Inc. have also recently entered agreements to gain access to Bind’s nanomedicine technology to develop new drugs.
Collectively, these three collaborations have a potential to be worth nearly $1 billion to Bind, a Bind spokeswoman said in an e-mail.
Bind’s nanotechnology is based on research by Professor Robert Langer of the Massachusetts Institute of Technology and Professor Omid Farokhzad of Harvard Medical School.
Last month, Moderna Therapeutics disclosed that it would receive a $240 million upfront payment to license its protein-stimulating technology to AstraZeneca.Chris Reidy can be reached at firstname.lastname@example.org.