Thousand Oaks-based Amgen has entered a deal to pay up to $180.5 million for nanomedicine tumor treatments being developed by a Massachusetts company.
Cambridge-based Bind Biosciences said it has entered a development agreement with Amgen for its kinase inhibitor nanomedicines for treating a range of solid tumors. The medicines are highly targeted and can be programmed to seek certain kinds of cells, the firm said in a release.
Under the agreement, Amgen will have the right to develop and commercialize the drug for the treatment of whatever tumor types Amgen selects. In exchange, Bind could receive up-front and development milestone payments totaling $46.5 million up to an additional $134 million in regulatory and sales milestone payments for the first therapeutic use. The Massachusetts company also said it will receive tiered royalties on potential future sales.