Acceleron, Celgene deal

Acceleron and Celgene will jointly develop and commercialize Acceleron's ACE-011 to treat cancer, including breast and ovarian cancers, and cancer-related bone loss. The activin receptor type 2a antagonist is in Phase Ib testing in healthy volunteers. Phase IIa testing to treat bone loss in multiple myeloma (MM) patients is expected to start mid-year. Acceleron will receive $50 million up front, including a $5 million equity investment by Celgene, and is eligible for $510 million in milestones, plus tiered royalties. Celgene also will purchase a minimum of $7 million in Acceleron stock in the event of an IPO. ...