Series D round starts off with $22mm for Bind Biosciences

Bind Biosciences Inc. (therapies for inflammatory and cardiovascular diseases and cancer) has raised $22mm at the start of its Series D round. Russian nanotech investor Rusnano contributed $12mm, while new investors and returning backers Polaris Venture Partners, Arch Venture Partners, NanoDimension, DHK Investments, and EndeavourVision provided $10mm. Another closing of $25.25mm is expected ($13mm from Rusnano and $12.25 from the others). Proceeds will be used to continue development on Bind's lead cancer compound BIND014, as well as to initiate a new program based on the company's Accurin site-specific drug delivery technology. Bind will also set up a new subsidiary in Russia, BIND (RUS) LLC. The Series D round was announced concurrent with an identical financing by Selecta Biosciences from Rusnano and many of the same backers. Bind and Selecta are independent of each other, but share technology background, founders, and investors.