Acceleron Pharma grows further with almost $11M financing

By Mass High Tech staff

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Acceleron Pharma Inc. has landed $10.9 million in equity financing, according to a regulatory filing.

The company develops preclinical protein treatments to combat bone loss, grow blood vessels and block fat growth.

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. It is backed by Advanced Technology Ventures, Bessemer Ventures, Flagship Ventures, MPM BioEquities, OrbiMed Advisors, Polaris Venture Partners, QVT Financial, Sutter Hill Ventures and Venrock.

Acceleron has shown 50 percent growth every year since its founding, according to CEO John Knopf. An October 2007 completion of a $31 million Series C round of financing led to job and facility growth, which has included new Cambridge headquarters, a second GMP protein manufacturing site and a third facility for laboratory and office space.

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