BIND Therapeutics Ends Oncology Deal with Amgen - Analyst Blog


BIND Therapeutics, Inc. ( BIND ) announced the completion of its one and a half year old agreement with Amgen Inc. ( AMGN ). In Jan 2013, the two companies had entered into a one-year collaboration agreement to optimize a specific therapeutic payload from Amgen, which was later extended by another six months to complete the research plan.

BIND Therapeutics and Amgen collaborated to develop a nanomedicine for treating solid cancer tumors utilizing BIND's platform for targeted and programmable nanomedicines and Amgen's unrevealed proprietary cancer compound. Moreover, BIND Therapeutics held rights to get a license from Amgen for the development, manufacture and commercialization of Accurins (the former's programmable therapeutics) containing Amgen's therapeutic payload if Amgen failed to exercise its option.

BIND Therapeutics notified that results from the research were not convincing enough to proceed forward. Following the completion of the agreement the companies will not exercise their options to develop an Accurin incorporating the Amgen therapeutic payload.

The news comes as a huge disappointment for the company. Although BIND Therapeutics mentioned that it will continue to develop its Accurin platform, we expect the shares of the company to go down significantly on the news.

BIND Therapeutics still has collaboration agreements with companies like AstraZeneca ( AZN ) to develop Accurins based on therapeutic payloads. Termination or failure of those agreements will be damaging for the stock.

The lead pipeline candidate at BIND Therapeutics is BIND-014, an Accurin. The candidate is undergoing phase II studies for the treatment of non-small cell lung cancer and metastatic castrate-resistant prostate cancer.

BIND Therapeutics presently carries a Zacks Rank #4 (Sell). The Medicines Company ( MDCO ) is a better-ranked stock with a Zacks Rank #1 (Strong Buy).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

ASTRAZENECA PLC (AZN): Free Stock Analysis Report

MEDICINES CO (MDCO): Free Stock Analysis Report

AMGEN INC (AMGN): Free Stock Analysis Report

BIND THERAPEUTC (BIND): Free Stock Analysis Report

To read this article on click here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ, Inc.

This article appears in: Investing , Business , Stocks

Referenced Stocks: AZN , MDCO , AMGN , BIND

More from

Related Videos



Most Active by Volume

  • $15.38 ▼ 1.09%
  • $110.38 ▲ 0.73%
  • $104.01 ▲ 1.75%
  • $6.3801 ▼ 53.60%
  • $4.25 ▲ 4.94%
  • $15.91 ▲ 7.72%
  • $4.64 ▲ 11.27%
  • $25.47 ▲ 1.11%
As of 10/2/2015, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by