BIND Biosciences announces $12.4 million Series C-1 financing

BIND Biosciences, Inc. (BIND), a privately held biopharmaceutical company developing best in class therapeutics based on its proprietary targeted nanotechnology platform, announced today that it has secured a $12.4 Million Series C-1 financing. This financing included all of BIND's current investors (including Polaris Venture Partners, Flagship Ventures, ARCH Venture Partners, NanoDimension and DHK Investments) as well as a new venture investor, Endeavour Vision, and private investors. BIND's Medicinal Nanoengineering^TM approach enables the development of targeted polymeric nanoparticle-based therapeutics that deliver high drug concentrations to diseased cells and tissues, resulting in increased efficacy and reduced toxicity of existing and new drug compounds. The proceeds of this financing will be used to conduct initial clinical trials on BIND's lead product candidate, BIND-014, a nanoparticle cancer therapeutic targeted to a clinically-validated solid tumor antigen, and to advance a second product candidate toward the clinic.

"The support from new and existing investors to take our lead product, BIND-014, into the clinic this year and move our second product towards the clinic next year is a significant step forward for BIND," said Scott Minick, President and Chief Executive Officer of BIND. "We are pleased that investors recognize BIND's achievements and the value of our platform and products. We look forward to translating this investment into therapeutics that will benefit patients, with a particular focus on nanoparticle-based cancer drugs in the near term."

"We saw the broad impact that BIND's nanotechnology platform can have and the team's ability to rapidly develop important therapeutic products based on the company's proprietary technology," said Eric Milledge, Venture Partner of Endeavour Vision and former Group Chairman at Johnson & Johnson. "We believe that BIND's exciting platform has the potential to produce best in class products based on proven drugs and promising drug candidates. The company also has a very strong foundation of broad intellectual property combined with scalable manufacturing and a team with an outstanding track record."

Source BIND Biosciences, Inc.,