Acetylon Nabs $4.9M for Myeloma Drug

5/11/11

Boston-based Acetylon Pharmaceuticals said today it has formed a new alliance with the Leukemia & Lymphoma Society. Under the deal, the nonprofit research foundation will contribute as much as $4.85 million to help Acetylon run a Phase I/II clinical trial program for an experimental drug against multiple myeloma. Acetylon’s oral drug, ACY-1215, is a histone deacetylase (HDAC) inhibitor. The company, founded on discoveries at Dana-Farber Cancer Institute and Harvard University, raised about $12 million in an equity financing in February.

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