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Acceleron Pharma Inc.’s development and commercialization collaboration with New Jersey partner Celgene Corp. continues to pay off in the form of funding for the Cambridge biomedical company.
Acceleron took in a $30 million investment from Celgene, and its cadre of existing backers, including Advanced Technology Ventures, Alkermes, Avalon Ventures, Bessemer Ventures, Flagship Ventures, MPM BioEquities, OrbiMed Advisors, Polaris Ventures, QVT Financial, Sutter Hill Ventures and Venrock. The funding will aid Acceleron’s research and clinical development of its cancer and orphan disease-directed protein therapeutics, the company said in a news release today. It also will add a new member to Acceleron’s board of directors with George Golumbeski, senior vice president of corporate development at Celgene.
In September, Celgene paid a $7.5 million milestone payment to Acceleron after the latter launched a Phase 1 clinical trial of its ACE-536 anemia treatment candidate.
Acceleron was co-founded in 2004 by former Mass High Tech All-Star Christoph Westphal, life sciences-focused serial entrepreneur and co-founder of Longwood Founders Fund, a Boston-based venture capital firm.
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