BIND rounds up $11M, names new CEO

BIND Biosciences, a 2008 Fierce 15 winner, announced today that it has raised $11 million in Series C financing. The company also said that it's hired Scott Minick, a former managing director of ARCH Venture Partners (one of BIND's investors) as president and CEO. The company is using advances in nanotechnology to improve drug delivery, connecting polymers and existing therapeutics to deliver drugs at key targets. BIND says the money will be used to advance its preclinical product pipeline to clinical trials and expand its product development capabilities. The company was founded in 2006 by noted MIT scientist Robert Langer, whose work has contributed to a number of biotech start-ups.

The financing was led by DHK Investment, representing David Koch, with participation by all existing investors. "I worked closely with the academic inventors, Robert Langer and Omid Farokhzad, during the formative years of this technology," says Koch, executive vice president and director, Koch Industries. "I am impressed by the progress that BIND has made in translating this science from the bench towards the clinic, where it promises to make a real difference in the lives of patients and their families."

- here's Bind's release for more