Rusnano asset and Pfizer to develop and market new drugs

Rusnano asset and Pfizer to develop and market new drugsBIND Therapeutics, a biotech asset of Russia?s Rusnano, will join forces with Pfizer over the development and sales of innovation drugs, including cancer ones.

BIND Therapeutics, a biotech asset of Russia?s Rusnano, has inked an agreement with Pfizer, a global pharma major, on the joint development and sales of innovation drugs, including cancer ones, Rusnano announced. Under the terms of cooperation, the partners will tap into BIND Therapeutics? Accurins proprietary technology platform enabling targeted delivery of drugs to cells and tissues. Both companies will also team up in conducting preclinical trial testing. ?Pfizer will have the exclusive option to pursue development and commercialization of the Accurins selected by its team? and if Pfizer exercises its option, Pfizer will have responsibility for development and commercialization of the selected Accurins. BIND could receive up-front and development milestone payments totaling approximately $50m and approximately $160m in regulatory and sales milestone payments for each Accurin commercialized as well as tiered royalties on potential future sales,? Rusnano said...