For Its Latest Epigenetics Deal, Celgene Takes Option To Buy Acetylon

29 Jul 2013

• By Paul Bonanos

A $100 million, non-dilutive investment will keep Acetylon off the market, giving Celgene the right to buy it for a minimum of $500 million up-front within a pre-determined time window. For now, Acetylon retains all rights to its pipeline, including Phase Ib multiple myeloma drug ACY-1215.

Celgene Corp. deepened its commitment to both epigenetics and multiple myeloma with a $100 million payment to five-year-old Acetylon Pharmaceuticals Inc., giving it an option to acquire the privately-held start-up outright.

The deal doesn’t give Celgene any rights to Acetylon’s pipeline of histone deacetylase inhibitors right away, but it will keep...