BIND Biosciences
Based: Cambridge, MA
Founded: 2006
Website: www.bindbio.com [1]
The Scoop: Anyone familiar with the work of MIT scientist Robert Langer knows just how prolific he has been, translating cutting edge science into biotech startups. Bind Biosciences is one of his latest brainchildren, and a familiar group of venture backers are betting that he's helped create another biotech winner--this time using advances in nanotechnology to improve drug delivery.
What makes it Fierce: For an MIT scientist, Robert Langer has great friends in the venture field. Polaris Ventures has been a regular champion of various Langer ventures, hitting a home run with Momenta. This time around Langer has contributed his scientific know-how to developing new technology that marries polymers and existing therapeutics to deliver drug payloads at key targets. One clinical success here could spell a string of programs.
Polaris and Flagship combined on a small seed round early on and were joined in
A second, $16 million round by NanoDimension and Arch [2], another venture firm with a pronounced taste for early-stage ventures exploring advanced technology. That doesn't add up to a tremendous amount of money, by drug development standards, but it should be plenty to get this technology to proof-of-concept.
What to look for: Bind's science is built for partnering with drug companies that can see an opportunity to further develop proved drugs. That kind of licensing cash can help the founders keep their equity as Bind explores a future that may one day lead to an IPO.
Links:
[1] http://www.bindbio.com/
[2] http://www.fiercebiotech.com/press-releases/press-release-bind-biosciences-closes-16m-series-b-financing-round
[3] http://www.biotechresults.com/
[4] http://www.fiercebiotech.com/special-reports/fiercebiotechs-2008-fierce-15
[5] http://www.fiercebiotech.com/special-reports/braincells-2008-fierce-15