Just months after raising its second venture round, Acceleron Pharma has announced a $31 million Series C. Much of that money will be used to advance its ACE-011 program for bone growth into a mid-stage trial. A Phase I study of ACE-031 is planned to gauge its effectiveness increasing muscle mass and strength. A third candidate--ACE-041--is scheduled for the clinic in the second half of next year. Acceleron has made headlines for its work with the Belgian blue, a bull with enormous muscles.
Bessemer Venture Partners led the round along with other new investors MPM BioEquities and QVT Financial. All existing institutional investors participated in the round including Advanced Technology Ventures, Flagship Ventures, OrbiMed Advisors, Polaris Ventures, Sutter Hill Ventures and Venrock.
- see Acceleron's releaseÂ for more
ALSO: Relypsa, a spinout of Ilypsa, has raised $33 million in its first round of funding. Amgen acquired Ilypsa in June for $420 million. 5AM Ventures and New Leaf Venture Partners led the round for the company, which is being led by two former Ilypsa execs. Release