Celgene Corp.'s deal with Acetylon Pharmaceuticals Inc. hinges on the expectation that epigenetic therapy combinations will become mainstays of multiple myeloma treatment and gives Celgene first crack at ACY-1215 - the most advanced HDAC6 inhibitor in development.

Regardless of whether the deal progresses to an acquisition, Acetylon is getting enough money to bring the molecule deep into Phase II trials.