Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > BIND Biosciences Secures $12.4 Million Financing

Abstract:
Series C-1 Financing Enables BIND To Pursue Multi-product Strategy

BIND Biosciences Secures $12.4 Million Financing

Cambridge, MA | Posted on June 29th, 2010

BIND Biosciences, Inc. (BIND), a privately held biopharmaceutical company developing best in class therapeutics based on its proprietary targeted nanotechnology platform, announced today that it has secured a $12.4 Million Series C-1 financing. This financing included all of BIND's current investors (including Polaris Venture Partners, Flagship Ventures, ARCH Venture Partners, NanoDimension and DHK Investments) as well as a new venture investor, Endeavour Vision, and private investors. BIND's Medicinal NanoengineeringTM approach enables the development of targeted polymeric nanoparticle-based therapeutics that deliver high drug concentrations to diseased cells and tissues, resulting in increased efficacy and reduced toxicity of existing and new drug compounds. The proceeds of this financing will be used to conduct initial clinical trials on BIND's lead product candidate, BIND-014, a nanoparticle cancer therapeutic targeted to a clinically-validated solid tumor antigen, and to advance a second product candidate toward the clinic.

"The support from new and existing investors to take our lead product, BIND-014, into the clinic this year and move our second product towards the clinic next year is a significant step forward for BIND," said Scott Minick, President and Chief Executive Officer of BIND. "We are pleased that investors recognize BIND's achievements and the value of our platform and products. We look forward to translating this investment into therapeutics that will benefit patients, with a particular focus on nanoparticle-based cancer drugs in the near term."

"We saw the broad impact that BIND's nanotechnology platform can have and the team's ability to rapidly develop important therapeutic products based on the company's proprietary technology," said Eric Milledge, Venture Partner of Endeavour Vision and former Group Chairman at Johnson & Johnson. "We believe that BIND's exciting platform has the potential to produce best in class products based on proven drugs and promising drug candidates. The company also has a very strong foundation of broad intellectual property combined with scalable manufacturing and a team with an outstanding track record."

####

About BIND Biosciences
BIND Biosciences, Inc., is a biopharmaceutical company leveraging its proprietary Medicinal Nanoengineering platform to produce best in class drugs to provide significant improvement in the treatment of patients with serious diseases. BINDís platform enables the design, engineering and manufacturing of therapeutic targeted nanoparticles with unprecedented control over drug pharmacokinetics, biodistribution and cell- or tissue-specific targeting. Medicinal Nanoengineering complements medicinal chemistry to enable predictable, cost effective and rapid development of breakthrough products with superior efficacy and safety profiles. Product opportunities include enabling or expediting the development of pipeline molecules as well as improving performance, expanding indications or life cycle extension for mid- and late-stage products. BINDís initial product development efforts are in the areas of oncology, cardiovascular disorders, inflammatory disease and RNAi therapeutics. BINDís lead program, BIND-014, targets a surface protein upregulated in solid tumors and is planned to enter clinical development in 2H 2010.

BIND was founded in 2006 by two pioneers in the field of therapeutic targeted nanoparticles, Dr. Robert Langer, MIT David H. Koch Institute Professor, and Dr. Omid Farokhzad, Harvard Medical School Associate Professor. BIND is backed by leading venture capital firms, Polaris Venture Partners, Flagship Ventures, ARCH Venture Partners, NanoDimension, DHK Investments and Endeavour Vision. For more information, please visit the companyís web site at www.bindbio.com.

About Endeavour Vision
Endeavour Vision combines a team of experienced venture capital professionals who have collectively invested in over 80 companies in 12 countries in both the Life Sciences and Information/Communication Technology sectors since 1989. The firm invests in early stage companies which have the potential to become global leaders. Past investments in Life Sciences by Endeavour Vision professionals include Actelion (SWX:ATLN), Axovan (acquired by Actelion) and Endoart (acquired by Allergan, NYSE:AGN). For more information, please visit www.endeavourvision.com.

For more information, please click here

Contacts:
BIND Biosciences, Inc.
Andrea Franz
Tel: 617-491-3400


Media:
Kathryn Morris
The Yates Network
Tel: 845-635-9828

Copyright © BIND Biosciences

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

The power of perovskite: OIST researchers improve perovskite-based technology in the entire energy cycle, from solar cells harnessing power to LED diodes to light the screens of future electronic devices and other lighting applications August 18th, 2017

Gold nanostars and immunotherapy vaccinate mice against cancer: New treatment cures, vaccinates mouse in small proof-of-concept study August 18th, 2017

Researchers printed graphene-like materials with inkjet August 17th, 2017

Candy cane supercapacitor could enable fast charging of mobile phones August 17th, 2017

Investments/IPO's/Splits

Nanometrics Announces Upcoming Investor Events August 3rd, 2017

Nanometrics to Participate in the 9th Annual CEO Investor Summit 2017: Accredited investor and publishing research analyst event held concurrently with SEMICON West and Intersolar 2017 in San Francisco June 27th, 2017

180 Degree Capital Corp. Announces the Start of Kevin Rendino as Chairman and Chief Executive Officer and Completion of its Transition to a Registered Closed-End Fund March 31st, 2017

Harris & Harris Group Issues Its Financial Statements as of December 31, 2016, Posts Its Annual Shareholder Letter, And Will Host a Conference Call for Shareholders on Friday, March 17, 2017 March 15th, 2017

Nanomedicine

Gold nanostars and immunotherapy vaccinate mice against cancer: New treatment cures, vaccinates mouse in small proof-of-concept study August 18th, 2017

Freeze-dried foam soaks up carbon dioxide: Rice University scientists lead effort to make novel 3-D material August 16th, 2017

Gold shines through properties of nano biosensors: Researchers discover that fluorescence in ligand-protected gold nanoclusters is an intrinsic property of the gold particles themselves August 16th, 2017

Two Scientists Receive Grants to Develop New Materials: Chad Mirkin and Monica Olvera de la Cruz recognized by Sherman Fairchild Foundation August 16th, 2017

Announcements

The power of perovskite: OIST researchers improve perovskite-based technology in the entire energy cycle, from solar cells harnessing power to LED diodes to light the screens of future electronic devices and other lighting applications August 18th, 2017

Gold nanostars and immunotherapy vaccinate mice against cancer: New treatment cures, vaccinates mouse in small proof-of-concept study August 18th, 2017

Researchers printed graphene-like materials with inkjet August 17th, 2017

Candy cane supercapacitor could enable fast charging of mobile phones August 17th, 2017

Nanobiotechnology

Gold nanostars and immunotherapy vaccinate mice against cancer: New treatment cures, vaccinates mouse in small proof-of-concept study August 18th, 2017

Freeze-dried foam soaks up carbon dioxide: Rice University scientists lead effort to make novel 3-D material August 16th, 2017

Gold shines through properties of nano biosensors: Researchers discover that fluorescence in ligand-protected gold nanoclusters is an intrinsic property of the gold particles themselves August 16th, 2017

Two Scientists Receive Grants to Develop New Materials: Chad Mirkin and Monica Olvera de la Cruz recognized by Sherman Fairchild Foundation August 16th, 2017

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project