Bind Biosciences, a biopharmaceutical company, has secured a $12.4 million series C-1 financing.

7/1/2010

Scottrade

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.

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.

Scott Minick, president and CEO of Bind, said: "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. 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."