BIND Biosciences, Inc. Closes $16M Series B Financing Round.CAMBRIDGE, Mass. -- BIND Biosciences, Inc. (BIND), a privately held biopharmaceutical company developing "smart" therapeutic targeted nanoparticles capable of differential delivery and controlled drug The United Kingdom Misuse of Drugs Act 1971 aimed to control the possession and supply of numerous listed drugs and drug-like substances. The act allowed and regulated the use of some Controlled Drugs (designated CD) by various classes of persons (e.g. release to diseased tissue, announced today that it has secured a $16 million Series B financing. BIND's platform is based on a combinatorial technology that allows for precise engineering of optimally formulated targeted nanoparticles that substantially increase the clinical efficacy and safety of existing and new therapeutics. The proceeds of this financing will be used to advance BIND's preclinical product pipeline to clinical trials and expand its product development capabilities. Founding investors, Polaris Venture Partners and Flagship Ventures, were joined by ARCH Ventures and NanoDimension in the round. "I am delighted by the strength of our syndicate whose outstanding track record and deep knowledge of our technology space is a clear testament to the extraordinary potential of our team, platform and pipeline," said Glenn Batchelder, President and Chief Executive Officer of BIND. He continued, "We are pleased that our new investors recognized the significant value that has been created since the initial financing." "As I look across the nanotechnology landscape," said Dr. Daniel Richner, NanoDimension Director, "BIND is uniquely positioned to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the confluence of advances in nanoparticle manufacturing, therapeutic targeting, and polymeric controlled release." Dr. Richner continued, "I believe that their product-platform will generate a revolutionary class of therapeutics while providing a tremendous opportunity for strategic partnerships across a wide spectrum of therapeutic areas." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. ARCH Managing Director, Scott Minick, "I am excited to be involved with the company whose unique combinatorial platform will lead the way in harnessing the clinical potential of therapeutic targeted nanoparticles." Mr. Minick, who previously led the successful development and commercialization of the doxorubicin-liposome (DOXIL), continued, "I look forward to working with BIND's management team, whose collective record of drug development and building successful polymeric particle drug delivery platforms creates a powerful combination of team and technology to execute and capitalize on this opportunity." BIND was founded in 2006 by two pioneers in the field of therapeutic targeted nanoparticles, Dr. Robert Langer, MIT MIT - Massachusetts Institute of Technology Institute Professor, and Dr. Omid Farokhzad, Harvard Medical School Harvard Medical School (HMS) is one of the graduate schools of Harvard University. It is a prestigious American medical school located in the Longwood Medical Area of the Mission Hill neighborhood of Boston, Massachusetts. Assistant Professor of Anesthesiology anesthesiology (ăn'ĭsthē'zēŏl`əjē), branch of medicine concerned primarily with procedures for rendering patients insensitive to pain, and for supporting life systems under the strains of anesthesia and surgery. . In January of 2007 Polaris and Flagship provided the initial funding for BIND with a $2.5 million Series A financing. About BIND Biosciences, Inc. BIND Biosciences is a privately held biopharmaceutical company focused on developing therapeutic targeted nanoparticles to concentrate drug at the intended site of action while minimizing systemic exposure, thereby improving efficacy and reducing off-target effects. The company's platform is broadly applicable across therapeutic areas with the initial product development efforts focused in cancer and cardiovascular disease Cardiovascular disease Disease that affects the heart and blood vessels. Mentioned in: Lipoproteins Test cardiovascular disease . The company anticipates initiating clinical trials for their first product in 2009. The company licensed a large patent estate on a worldwide exclusive basis from MIT and Brigham and Women's Hospital Brigham and Women's Hospital (BWH) is a hospital in the Longwood Area of the Boston, Massachusetts neighborhood of Mission Hill. With Massachusetts General Hospital, it is one of the two founding members of Partners HealthCare. - Harvard Medical School covering the scientific founders' work in targeted nanoparticle therapeutics. The Company has assembled a world-class management team, board of directors and scientific advisory board that draws from companies and institutions such as Millennium Pharmaceuticals Millennium Pharmaceuticals NASDAQ: MLNM is a biotechnology company based in the Cambridge, Massachusetts area of the United States of America. Founded in 1993, the company conducts research in various scientific areas, currently focusing on inflammation and oncology. , Alkermes, Sepracor, Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, , Harvard Medical School, Dana Farber Cancer Institute, Brigham and Women's Hospital, and Weill Medical College of Cornell. For more information, please visit the company's web site at www.bindbio.com. About ARCH Venture Partners ARCH Venture Partners is a premier provider of seed and early-stage venture capital for technology firms. Over the last 20 years, ARCH has co-founded or led the seed round for more than 120 new ventures -- with 7 funds and $1.4 billion under management. ARCH enjoys special recognition as a leader in the successful commercialization of technologies developed at academic research institutions and national laboratories. Notable biotechnology companies Top 100 Biotechnology Companies The following is a list of the top 100 biotechnology companies ranked by revenue. The first nine companies qualify for the list of the top 50 pharmaceutical companies. where ARCH was an early or founding investor are: Aviron, Illumina, Alnylam, Array Biopharma, deCode Genetics deCODE genetics, Inc. (Íslensk erfðagreining in Icelandic) NASDAQ: DCGN is a biopharmaceutical company based in Reykjavík, Iceland. The company was founded in 1996 to identify human genes associated with common diseases using population studies, and apply the , Xenoport, Trubion Pharmaceuticals, Ikaria, GenVec, IDUN Pharmaceuticals, Neurogesx, and Caliper caliper Instrument that consists of two adjustable legs or jaws for measuring the dimensions of material parts. Spring calipers have an adjusting screw and nut; firm-joint calipers use friction at the joint to hold the legs unmoving. Life Sciences, among others. For more information on ARCH Venture Partners, please visit www.archventure.com. About Flagship Ventures Flagship Ventures is a venture capital firm focused on creating, financing and building innovative companies. Founded in 1999, Flagship manages over $500 million in early-stage funds and operates from its offices at Kendall Square in Cambridge, MA. With an active portfolio of over 40 companies, the firm's strategy is to balance its investments across three principal business sectors: Therapeutics, Life Science Tools & Diagnostics, and BioEnergy/Cleantech. During the past two decades Flagship's principals have been involved as founders or investors in many highly successful ventures including: Adnexus Therapeutics, Alere Medical, Aspect Medical, Celera Genomics, ChemGenics Pharmaceuticals, Color Kinetics, Cytyc, DataSage, Exact Sciences, Helicos Biosciences, Hypnion, IDEXX, Morphotek, PerSeptive Biosystems and TripAdvisor. For more information please visit www.flagshipventures.com. About NanoDimension NanoDimension is a venture capital firm supporting top entrepreneurial teams to build nanotech companies with the potential to become world leaders For a list of heads of state, see . World leaders is a MMORPG. The game involves creating a state, joining an alliance and going into war. It is mostly played by players from Israel, China, USA, Britain, Brazil and Saudi-Arabia. in their field. The investment activities focus on IT/electronics and life sciences, and on the convergence of these areas, in Europe as well as in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . NanoDimension pursues an active and comprehensive investment approach by providing the companies with financial resources, strong entrepreneurial and managerial experience and extensive scientific expertise through its team of experts. For additional information please visit www.nanodimension.com. About Polaris Venture Partners Established in 1996, with offices in Waltham and Seattle, Polaris has over $3 billion under management. Polaris Venture Partners has helped build numerous market leading companies, including: Acceleron Pharma, Accordant Health Services health services Managed care The benefits covered under a health contract , Advanced Inhalation Research, Akamai Technologies, Allaire, Alnylam Pharmaceuticals, American Superconductor, Aspect Medical Systems, Avici Systems, Centra Software, Classifieds2000, deCODE genetics, Exchange.com, Matrics, Microbia, Momenta Pharmaceuticals, Paradigm Genetics, Powersoft, PSCI PSCI Parallel and Scientific Computing Institute (Sweden) PSCI Packet Switching Capable Interface PSCI Parallel Servo Controller Interface , SolidWorks and TransForm Pharmaceuticals. More information about Polaris Venture Partners is available at www.polarisventures.com. |
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