Daily News: January 27, 2015

Hercules Amends BIND Therapeutics Facility


BIND Therapeutics entered into an amendment of its existing credit facility from Hercules Technology III, an affiliate of Hercules Technology Growth Capital. Under the amendment, the company borrowed an additional $15 million in growth capital, less the repayment of the outstanding balance on BIND’s existing term loan facility of approximately $3 million.

In connection with the amendment, BIND issued Hercules warrants to purchase shares of BIND common stock totaling three percent of the additional amount raised.

“The capital provided by this financing strengthens our financial resources and provides the flexibility to advance clinical and preclinical programs for our Accurin technology, including BIND-014, BIND-510, and our PLK1 and KSP inhibitor programs”

“The capital provided by this financing strengthens our financial resources and provides the flexibility to advance clinical and preclinical programs for our Accurin technology, including BIND-014, BIND-510, and our PLK1 and KSP inhibitor programs,” said Andrew Hirsch, chief operating officer and chief financial officer at BIND Therapeutics. “With this additional funding, we believe that we now have cash, cash equivalents and short term investments as well as research and development funding that will fund our operations at least through the end of 2015.”