Donate to Science & Enterprise

S&E on Mastodon

S&E on LinkedIn

S&E on Flipboard

Please share Science & Enterprise

Biotech Lands $30 Million Late Stage Investment

TGF-beta molecule illustration (National Cancer Institute)

TGF-beta molecule illustration (National Cancer Institute)

Acceleron Pharma Inc. in Cambridge, Massachusetts says it raised $30 million in private financing from its current investors and one of its drug development partners. The funds, says Acceleron, will advance its clinical stage drug pipeline, as well as its overall research agenda.

The company develops therapies based on the transforming growth factor beta (TGF-beta) superfamily of proteins. These molecules regulate a wide range of tissue and cell functions — including blood, bone, muscle and blood vessels — during normal development and growth, following injury, and in disease.

Among the drugs in its pipeline are those designed to treat anemia, solid-tumor cancers, and Duchenne muscular dystrophy, all of which are in clinical trials. Candidates to treat bone loss and inflammatory disease are in preclinical stages.

Among Acceleron’s latest investors is Celgene Corp., another biotech based in Summit, New Jersey. Celgene and Acceleron are collaborating on the development of two candidates, Sotatercept (formerly ACE-011) and ACE-536, for the treatment of anemia. Sotatercept treats anemia caused by chemotherapy and chronic kidney disease and is now in phase 2 clinical trials. ACE-536 treats anemia in patients with rare blood disorders and is in phase 1 trials.

Read More: FDA Grants Orphan Status for Neuromuscular Drug

*     *     *

1 comment to Biotech Lands $30 Million Late Stage Investment