Acceleron and Shire Conclude Collaboration on ACE-031
Acceleron continues development of three phase 2 drugs in oncology and hematology
CAMBRIDGE, Mass.--Acceleron Pharma, Inc., a biopharmaceutical company developing protein therapeutics for cancer and orphan diseases, today reported that Shire plc (LSE: SHP, NASDAQ: SHPG) has concluded the collaboration with Acceleron on ACE-031 and related molecules. The clinical development of ACE-031 was suspended in February 2011 and since then the companies have conducted preclinical studies to determine whether to resume clinical studies. The companies have now decided not to restart the development of this program. Acceleron remains focused on the eleven phase 2 clinical studies currently underway across its three investigational protein therapeutics - sotatercept, dalantercept and ACE-536.
"While we are disappointed in the outcome of the ACE-031 program, the research provided valuable insights that can be applied across Acceleron's pipeline of novel compounds and may benefit other patients in the future. In the last six months, we have initiated seven of the eleven ongoing phase 2 trials and we are committed to achieving our goal of beginning at least one phase 3 study in 2014," said John Knopf, Ph.D., Chief Executive Officer, Acceleron. "Shire has been an excellent collaborator and we thank them, our clinical investigators and the patient community for their contributions to the ACE-031 program."
Acceleron is a privately-held biopharmaceutical company committed to discover, develop, manufacture and commercialize novel protein therapeutics for orphan diseases and cancer. Acceleron's scientific approach takes advantage of its unique insight to discover first-in-class therapies based on the TGF-β protein superfamily. Acceleron utilizes proven biotherapeutic technologies and capitalizes on the company's internal GMP manufacturing capability to advance its therapeutic programs rapidly and efficiently. The investors in Acceleron 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. For further information on Acceleron, please visit www.acceleronpharma.com.
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