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BIND extends deal with Pfizer to develop and commercialize multiple Accurins

Us-based BIND Therapeutics has extended the terms of its global collaboration with Pfizer to create Accurins that optimize the therapeutic potential of two molecularly targeted oncology drugs in Pfizer’s pipeline.

BIND is focused on developing targeted and programmable therapeutics called Accurins.

The deal was originally established in April 2013 and the timeline for Pfizer to exercise its option to acquire the exclusive license for the first program continues to be September 2015.

The two companies have agreed to an extension of the timeline for the second program through March 2016.

BIND Therapeutics president and chief executive officer Andrew Hirsch said: "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.

"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."

As part of the original deal, Pfizer has the exclusive option to pursue development and commercialization of the Accurins selected.

The two firms will work together on preclinical research, and if Pfizer exercises its option, it will have responsibility for development and commercialization of the selected Accurins.

BIND secured an upfront payment of $4m in 2013, a $1m preclinical development milestone in December 2014, and has the potential to receive payments up to $88.5m upon the achievement of additional specified development and regulatory events.

The company is also eligible to receive additional payments up to $110m for specified commercial events as well as royalties in the low single to high single digit percentages on potential future sales of each Accurin commercialized, if any.