BioCentury
ARTICLE | Company News

Acetylon, Array BioPharma, Celgene deal

August 5, 2013 7:00 AM UTC

Celgene paid $100 million up front in exchange for an exclusive option to acquire Acetylon. If Celgene exercises its option, Acetylon will receive at least $500 million in cash up front and Acetylon shareholders would be eligible for up to $250 million in regulatory milestones and up to $850 million in sales milestones. The companies are not disclosing the terms of the option. Celgene first made a $15 million equity investment in Acetylon last year (see BioCentury, Feb. 13, 2012).

Acetylon's ACY-1215 is an oral selective histone deacetylase 6 (HDAC6) inhibitor in Phase I/II testing for relapsed or refractory multiple myeloma (MM). The company's pipeline also includes ACY-738, which is in preclinical testing for neurodegeneration and is slated to enter the clinic around the end of 2014. ...