CAMBRIDGE, Mass. – March 24, 2008 - Acceleron Pharma, Inc., a biopharmaceutical company developing novel therapeutics that modulate the growth of tissues including bone and muscle, today announced it has received the upfront payment from Celgene Corporation following clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for the collaboration between the two companies previously announced on February 20, 2008.
The collaboration between Acceleron and Celgene is a joint development, joint commercialization agreement on ACE-011, a first-in-class, novel bone-forming compound, and three discovery stage programs for the treatment of cancer and cancer-related bone loss.
About ACE-011
ACE-011, a protein therapeutic based on the activin receptor type IIA, is a novel bone-forming agent. In numerous pre-clinical models of bone loss, ACE-011 increased bone mineral density, improved bone architecture, increased the mineral apposition and bone formation rates and improved bone mechanical strength. These effects have been demonstrated in therapeutic models of bone loss in which ACE-011 stimulated bone formation – a significant unmet medical need that is underserved by current treatments for bone loss. In its Phase 1 study, ACE-011 demonstrated an encouraging safety profile and increased biomarkers of bone formation. ACE-011 is currently in a Phase 1b study and Acceleron expects to begin a Phase 2a study in multiple myeloma in the middle of 2008.
About Acceleron
Acceleron is a privately held biopharmaceutical company committed to discover, develop, manufacture and commercialize novel biotherapeutics that modulate the growth of bone, muscle, fat and the vasculature to treat musculoskeletal, metabolic and cancer-related diseases. Acceleron’s scientific approach takes advantage of its unique insight into the regenerative powers of two protein families: the Growth and Differentiation Factors (GDFs) and Bone Morphogenetic Proteins (BMPs). ACE-011, a novel bone forming agent, is the Company’s lead program, and is being developed to reverse bone loss in diseases such as cancer-related bone loss. In addition, the company is advancing through pre-clinical development product candidates that increase muscle mass, control angiogenesis and inhibit fat accumulation. Acceleron utilizes proven biotherapeutic technologies and capitalizes on the company’s internal GMP manufacturing capability to rapidly and efficiently advance its therapeutic programs. The investors in Acceleron are Advanced Technology Ventures, Bessemer Ventures, Flagship Ventures, MPM BioEquities, OrbiMed Advisors, Polaris Ventures, QVT Financial, Sutter Hill Ventures and Venrock. For more information, visit www.acceleronpharma.com.
CONTACT:
Acceleron Pharma
Steven Ertel, 617-649-9234
Vice President, Corporate Development
Paul Kidwell (Media)
Suda Communications LLC
Tel: 617-296-3854