BOSTON — Acetylon Pharmaceuticals, the leader in the development of selective histone deacetylase (HDAC) inhibitors for enhanced therapeutic outcomes, today announced that it has been named by FierceBiotech as one of 2013's Fierce 15 biotechnology companies, designating it as one of the most promising private firms in the industry.
"Acetylon has emerged from one of the most difficult periods for raising funds for biotech startups in the history of the industry," said FierceBiotech Editor John Carroll. "The hard work of forming the Company with an exceptional $35 million of support from angel investors has paid off with a marquee deal with Celgene and exciting progress in clinical trials for its potential oral drug for multiple myeloma."
The Fierce 15 celebrates the spirit of being "fierce" – championing innovation and creativity, even in the face of intense competition. This is FierceBiotech's eleventh annual Fierce 15 selection.
"We are delighted to be selected as part of this year's 'Fierce 15', an award that honors our employees, founders, and academic and clinical collaborators for the tremendous work they have done in realizing the immense therapeutic potential for next-generation, selective HDAC inhibitors, including our lead drug candidate ACY-1215 for the treatment of hematological malignancies including multiple myeloma," commented Walter C. Ogier, President and Chief Executive Officer of Acetylon. "It is a testament to their hard work and the promise of these candidates that we have been able to secure a strategic collaboration with Celgene that includes an option for future acquisition of Acetylon."
Acetylon is developing a portfolio of oral, selective HDAC inhibitors in oncology, hematology, immunology and neurologic disease. The Company's lead candidate, ACY-1215, is an oral HDAC6 inhibitor currently in two clinical trials for the treatment of relapsed or refractory multiple myeloma: a Phase 1/2 trial in combination with first-in-class drug Velcade® (bortezomib) and a Phase 1b trial in combination with best-in-class drug Revlimid® (lenalidomide), which have reported early evidence of a favorable safety profile for ACY-1215 as well as extensive clinical responses in patients with advanced disease. In addition, Acetylon is developing a further highly selective HDAC6 inhibitor for neurodgenerative diseases, an HDAC1/2 inhibitor for sickle cell disease and beta-thalassemia, and a yet unnamed project – spanning a broad range of cancer and non-cancer disease indications.
Acetylon Pharmaceuticals, Inc., based in Boston, Massachusetts, is a leader in the development of novel small molecule drugs targeting epigenetic mechanisms for the enhancement of therapeutic outcomes in cancer and other critical human diseases. The Company's epigenetic drug discovery platform has yielded a proprietary portfolio of optimized, orally-administered Class I and Class II histone deacetylase (HDAC) selective compounds. Alteration of HDAC regulation through selective HDAC inhibition is thought to be applicable to a broad range of diseases including cancer, sickle cell disease and beta-thalassemia, and autoimmune and neurodegenerative diseases. Acetylon's lead drug candidate, ACY-1215, is a selective HDAC6 inhibitor currently in Phase 1b clinical development for the treatment of multiple myeloma. The Company recently announced a strategic collaboration agreement with Celgene Corporation, which includes an exclusive option for the future acquisition of Acetylon by Celgene. Acetylon's scientific founders are affiliated with the Harvard University, the Dana-Farber Cancer Institute, the Massachusetts General Hospital, and Harvard Medical School. www.acetylon.com
FierceBiotech is the biotech industry's daily monitor - a free email newsletter and web resource providing the latest biotech news, articles, and resources related to clinical trials, drug discovery, FDA approval and regulation, biotech company deals and more. More than 90,000 top biotech professionals rely on FierceBiotech for an insider briefing on the day's top stories. Signing up is free.