In the end, Pfiz­er saw the most val­ue in Bind Ther­a­peu­tics’ plat­form tech­nol­o­gy. Al­ready part­nered on new prod­ucts, Pfiz­er has come up with a win­ning bid of $40 mil­lion for the trou­bled biotech’s as­sets.

Pfiz­er grabbed “sub­stan­tial­ly all” of the Cam­bridge, MA-based biotech’s as­sets out of a Chap­ter 11 auc­tion, ac­cord­ing to a state­ment. And NanoCar­ri­er came in with the run­ner up of­fer for the as­sets.

Bind’s shares surged 21% on the news to­day.

Bind had to start cut­ting staff and stopped a clin­i­cal tri­al af­ter post­ing some dis­ap­point­ing da­ta on its lead can­cer drug, BIND-014 last spring. It be­gan to look for a col­lab­o­ra­tor and ex­tra cash, but was forced in­to bank­rupt­cy af­ter one of its lenders, Her­cules Tech­nol­o­gy, called a note.

Its Ac­curins plat­form, one of many to emerge from the lab of MIT’s Bob Langer, had drawn high-lev­el in­ter­est from a host of Big Phar­mas, in­clud­ing As­traZeneca, Roche and Mer­ck. Bind used poly­mers to cre­ate new drug de­liv­ery ve­hi­cles, look­ing to amp up the pay­load for more pre­cise­ly tar­get­ed ther­a­peu­tics. But in a tough en­vi­ron­ment for biotech stocks, Bind found it­self in a tight spot with lit­tle room to move.

DC District Court Judge Christopher Cooper today granted Vanda Pharma’s request to require the FDA to disclose more info on the complete response letter for its sleep disorder drug Hetlioz.

The melatonin receptor agonist is approved by the FDA to treat non-24-hour sleep-wake disorder, a circadian rhythm disorder. But in 2018 Vanda filed a supplemental application to market Hetlioz as a treatment for jet lag, which the FDA rejected in August 2019, with few details on what Vanda needed to correct course, according to the company.

Codiak BioSciences has filed for Chapter 11 bankruptcy, spelling an end to the employment of most executives, including founder Doug Williams, as the biotech says it “expects to consummate a sale.”

The eight-year journey at Codiak is nearing an end with Williams; CFO Linda Bain; medical chief David Mauro; scientific head Sriram Sathyanarayanan; legal and compliance chief Yalonda Howze; and SVP of HR Nicole Barna all packing up their bags in the first few days of April. Chief technology officer Konstantin Konstantinov will stay.