June 22, 2010

Mass High Tech

Acceleron Pharma pulls in $8.4M financing

Cambridge biopharmaceutical Acceleron Pharma Inc. has raised $8.4 million of a planned $11.5 million securities offering, according to a regulatory filing with the U.S. Securities and Exchange Commission.

The company develops novel therapeutics that modulate the growth of cells and tissues, including muscle, bone, fat, red blood cells and the vasculature.

Accleron’s investors as listed on its website include Advanced Technology Ventures, Bessemer Venture Partners, Flagship Ventures, MPM Capital, OrbiMed Advisers, Polaris Venture Partners, Sutter Hill Ventures and Venrock Associates.

Acceleron was co-founded in 2004 by former Mass High Tech All-Star Cristoph Westphal, head of GlaxoSmithKline PLC’s Centre of Excellence for External Drug Discovery.

The company raised $11 million in equity financing in December.  The financing was preceded by a $31 million Series C round in 2007.