Loading...
You are here:  Home  >  Banking & Finance  >  Current Article

Amgen inks $180M nanomedicine deal

By   /   Tuesday, January 8th, 2013  /   Comments Off

    Print       Email

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.

    Print       Email

You might also like...

Oilfield waste firm faces curb on VC shipments

Read More →