By Dow Jones Business News,
July 02, 2014, 04:50:00 PM EDT
By Tess Stynes
Bind Therapeutics Inc. ( BIND ) said a collaboration with Amgen Inc. ( AMGN ) has been ended after both companies agreed
not to pursue an option to jointly develop a molecularly targeted cancer therapy.
Bind Therapeutic shares fell 15% to $11 in recent after-hours trading.
The 12 month collaboration between Bind Therapeutics and Amgen, which began in early 2013, aimed to develop cancer
treatments using Bind's nanotechnology platform and an Amgen compound. Under the agreement, Amgen had an option to
select a molecularly targeted cancer therapy candidate for further development. The option period was extended by six
months to allow for completion of the research plan.
Bind Therapeutics Chief Executive Scott Minick stated "The goal of this research collaboration was to optimize a
specific therapeutic payload from Amgen. Despite achieving the objective of high tumor concentrations, the results were
not sufficiently compelling to proceed forward and both collaborators have agreed that the program will not be
Bind said it plans to remain focuses on the development of its Accurin platform, including its proprietary drug
candidate, as well as collaborations with other drug makers.
Write to Tess Stynes at email@example.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
Copyright (c) 2014 Dow Jones & Company, Inc.