BIND Therapeutics, Inc.
) announced the completion of its one and a half year old agreement
). 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
) 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
) is a better-ranked stock with a Zacks Rank #1 (Strong Buy).
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