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RUSNANO leads Bind, Selecta financings

October 28, 2011 1:10 AM UTC

Nanotechnology companies Bind Biosciences Inc. (Cambridge, Mass.) and Selecta Biosciences Inc. (Watertown, Mass.) each secured $47.3 million in a financing led by new investor RUSNANO, a tech-transfer fund owned by the Russian Federation. Each financing included a $22 million series D round and $25.3 million in additional funding. As part of the financing, each company will establish a subsidiary in Moscow and designate $25.3 million of the funds for activities in Russia.

Bind's lead product is BIND-014, a polymeric nanoparticle containing docetaxel that concentrates in the neovasculature surrounding tumors and targets prostate-specific membrane antigen ( PSMA). BIND-014 is in a Phase I trial to treat solid tumors. Selecta's lead is SEL-068, a targeted synthetic vaccine particle (tSVP) that activates immune responses. Selecta is preparing to begin clinical testing for SEL-068 for smoking cessation and relapse prevention. ...