August 3, 2011
Acceleron Gets $25 Million in Partnership Deal With Celgene
Cambridge, MA-based Acceleron Pharma is broadening its anemia research partnership with Celgene (NASDAQ: CELG), the Summit, NJ-based biotech giant, according to a press release. The companies, which have been collaborating since 2008, have formed a new joint development and commercialization deal for ACE-536, a compound that treats anemia. Celgene will make an upfront payment of $25 million to to Acceleron, which will also be eligible to receive up to $217 million in milestone payments and double-digit royalties should the product make it to market.