February 20, 2008

The Boston Globe

Acceleron teams up with Celgene

Acceleron Pharma Inc. today announced a global collaboration with Celgene Corp. on a program to treat cancer-related bone loss, a move that will bring Acceleron an upfront payment of $50 million.Acceleron is a privately held Cambridge company focused on biotherapeutics that modulate the growth of bone, muscle, fat, and the vasculature to treat musculoskeletal, metabolic, and cancer-related diseases.Celgene, headquartered in New Jersey, is an integrated global pharmaceutical company.Acceleron and Celgene said the their collaboration centers on ACE-011, a first-in-class, novel bone-forming compound.Under their agreement, Celgene and Acceleron said they will jointly develop, manufacture, and commercialize Acceleron's products for bone loss.Celgene will make an upfront payment to Acceleron of $50 million, which includes a $5 million equity investment in Acceleron; in addition, in the event of an initial public offering of Acceleron, Celgene will purchase a minimum of $7 million of Acceleron common stock, the companies said.