Bind Obtains $11M to Progress Preclinical Nanoparticles
Firm’s lead candidate targets a surface protein upregulated in solid tumors. !--h2>
Bind Biosciences has secured an $11 million Series C financing. The proceeds will be used to advance preclinical candidates obtained with its Medicinal Nanoengineering platform and to expand its product-development capabilities.
Bind is developing targeted therapeutics capable of differential delivery and controlled drug exposure to diseased tissue. The Medicinal Nanoengineering platform is based on a combinatorial technology. The company reports that its platform enables the design, engineering, and manufacture of therapeutic targeted nanoparticles with unprecedented control over drug pharmacokinetics, biodistribution, cell- or tissue-specific targeting, and drug exposure. 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.
Bind’s initial product-development efforts are in the areas of oncology, cardiovascular disorders, inflammatory disease, and RNAi therapeutics. Its lead program, BIND-014, targets a surface protein upregulated in solid tumors and is planned to enter clinical development in the second half of this year.
The financing was led by DHK Investment, representing David H. Koch, with participation by all existing investors, Polaris Venture Partners, Flagship Ventures, ARCH Venture Partners, and NanoDimension, as well as new private investors.
“I worked closely with the academic inventors, Robert Langer and Omid Farokhzad, during the formative years of this technology,” says Koch, evp and director, Koch Industries. “I am impressed by the progress that BIND has made in translating this science from the bench toward the clinic, where it promises to make a real difference in the lives of patients and their families.”