Acceleron Pharma, Inc., a Cambridge, MA-based biopharmaceutical company developing protein therapeutics for cancer and orphan diseases, has raised $30m in funding.
Backers include Celgene and all other existing investors.
The company intends to use the funding to expand and advance its clinical stage pipeline and to continue to support its highly productive research engine.
Founded in 2004 and led by CEO John Knopf, Ph.D., Acceleron is committed to discover, develop, manufacture and commercialize novel protein therapeutics for orphan diseases and cancer It has a robust product pipeline with several promising programs that modulate the growth of red blood cells, bone, muscle, and the vasculature.
Investors in the company include Advanced Technology Ventures, Alkermes, Avalon Ventures, Bessemer Ventures, Celgene, Flagship Ventures, MPM BioEquities, OrbiMed Advisors, Polaris Ventures, QVT Financial, Sutter Hill Ventures and Venrock.
In conjunction with this financing, George Golumbeski, Senior Vice President of Corporate Development of Celgene, has joined Acceleron’s Board of Directors.