Bind files $80M IPO to support PhII nanotech cancer drug delivery

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

Bind Therapeutics, MIT professor Robert Langer's nanoengineering business with a focus on cancer drug delivery vehicles, is looking to go public, registering Monday with the SEC for an IPO to raise a little over $80 million.

The Cambridge, MA-based company's Accurin delivery tech forms the basis of its candidate BIND-014, which is designed to deliver the chemotherapy drug docetaxel by targeting antigens on cancer cells. BIND-014 completed Phase I trials in April, demonstrating anti-tumor activity via a high concentration of the cancer drug at the site.

So with one experimental nanomed in Phase II, Bind's going public represents a high-risk investment, with those data expected in the second half of 2014. But with a posse of big-name partners in the wing--including Amgen ($AMGN), Pfizer ($PFE) and AstraZeneca ($AZN)--Bind has more than $1 billion in potential milestone agreements, according to the SEC filing.

The company expects at least one of its collaborators to have the Accurin tech in the clinic by the end of 2014. However, the S-1 also shows the company has spent more than $82 million getting to this point.

Along with Langer's MIT lab expertise, Bind has Scott Minick in the CEO position and one of the founders is Omid Farokhzad, Langer's former graduate student. Due to a company-wide quiet period, no one from Bind was available for comment.

- here's the release
- and here's the S-1
- and FierceBiotech's take