Bind collects $70.5M IPO to support Accurin tech

Bind's Accurin nanotech in Phase II offers precise cancer drug delivery.--Courtesy of Bind

Bind Therapeutics, currently developing a nanotech delivery platform for cancer, raised $70.5 million in a public offering of 4.7 million shares at $15 each. The company began trading Friday under the ticker symbol "BIND."

Bind's leading technology, Accurins, are designed to deliver cancer drugs to solid tumors in high concentrations. The nanoparticle vehicles are programmed to target cancer cells via antibodies on the capsules' surface, allowing for higher doses with fewer of the toxic side effects associated with chemotherapies.

The company's leading formulation, BIND-014, contains the drug docetaxel and is intended to treat lung and prostate cancers. The drug is currently in Phase II clinical trials, and Bind is not without backers--Amgen ($AMGN), Pfizer ($PFE) and AstraZeneca ($AZN) have all partnered with the Cambridge, MA-based company, giving it more than $1 billion in potential milestone agreements, according to an August SEC filing.

Bind, a business stemming from the lab of MIT professor Robert Langer, filed with the SEC to raise a little over $80 million in mid-August. The company could still reach that amount on top of the current windfall, as it is offering a 30-day option for investors to snatch up an additional 705,000 shares of common stock, according to a release.

- here's the release

Related Articles:
Bind launches second PhII trial for prostate cancer nanomed
Bind files $80M IPO to support PhII nanotech cancer drug delivery
BIND Biosciences strives for 'revolutionary' nanomedicine

Suggested Articles

Researchers in the U.K. have developed a technique to better predict results in liver cancer when drug-laden polymer beads are used to deliver medicines.

Researchers at Johns Hopkins have changed the structure of a new cancer drug to allow it to more easily pass the blood-brain barrier, giving it access to…

Medtronic’s world-first FDA-approved hybrid closed-loop insulin delivery system might soon face competition, as T1D Exchange has pledged to invest in the…