Report: Acceleron cuts 40% of staff

High-flying Acceleron told the Massachussets state government that it's cutting 40 percent of its workforce, or about 57 jobs. Prior to the cuts, the company had 140 employees, according to the Boston Globe. The company didn't give a reason for the cuts. Acceleron, a 2010 Fierce 15 company, is supported by a roster of blue-chip investors, including Advanced Technology Ventures, Bessemer Venture Partners, Flagship Ventures, MPM Capital, OrbiMed Advisors, Polaris Venture Partners, Sutter Hill Ventures and Venrock Associates.

Acceleron is working on a new drug that blocks myostatin, a protein known to inhibit muscle development and a key obstacle for anyone facing the debilitating effects of muscle erosion. Acceleron's lead drug--ACE-031--is a fusion protein that combines the human activin receptor type IIB with a section of antibody, capturing myostatin and other proteins that inhibit the growth and strength of muscles. 

- read the Boston Globe report for more