BIND Biosciences, Inc. announced that it has entered into a global collaboration agreement with Amgen Inc. to develop and commercialize a kinase inhibitor nanomedicine for treating a range of solid tumors. The collaboration will develop a novel Accurin based on BIND's platform for targeted and programmable nanomedicines and Amgen's undisclosed proprietary kinase inhibitor. The collaboration aims to create a kinase inhibitor nanomedicine with optimized therapeutic properties, applying for the first time tissue targeting to molecularly targeted drugs.

Under the terms of the agreement, Amgen will have the exclusive right to pursue development and commercialization of the Accurin kinase inhibitor against solid tumor targets to be selected by Amgen. Both companies will work together on preclinical development and Amgen will assume responsibility for future development and commercialization. BIND could receive up-front and development milestone payments totaling $46.5 million, and BIND could receive up to an additional $134 million in regulatory and sales milestone payments for the first therapeutic indication and is eligible for additional payments.

BIND will receive tiered royalties on potential future sales.