Acceleron proposes $115M follow-on
Acceleron Pharma Inc. (NASDAQ:XLRN) proposed to raise up to $115 million in a follow-on underwritten by Citigroup; Leerink Partners; Piper Jaffray; and JMP Securities. Acceleron was off $1.84 to $47.15 on Friday.
Acceleron and Celgene Corp. (NASDAQ:CELG) are co-developing sotatercept ( ACE-011) and ACE-536, which are both in Phase II testing to treat beta-thalassemia and myelodysplastic syndromes (MDS). The companies plan to start Phase III testing for at least one of the compounds in one or both of the indications by the end of 2014 or early 2015. Sotatercept is a soluble fusion protein consisting of the extracellular domain of activin receptor type 2A (ACVR2A) linked to the Fc protein of human IgGI, and ACE-536 is a modified ACVR2B fusion protein that inhibits several ligands in the transforming growth factor (TGF) beta superfamily. ...